Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Up 68.2% in May

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 947,000 shares, an increase of 68.2% from the May 15th total of 563,100 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 319,200 shares, the days-to-cover ratio is presently 3.0 days.

Hedge Funds Weigh In On Gilat Satellite Networks

Large investors have recently made changes to their positions in the company. Foundry Partners LLC raised its holdings in Gilat Satellite Networks by 9.0% during the 4th quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider's stock worth $5,593,000 after purchasing an additional 75,260 shares during the last quarter. Royce & Associates LP acquired a new position in Gilat Satellite Networks in the first quarter valued at approximately $4,434,000. Acadian Asset Management LLC boosted its stake in Gilat Satellite Networks by 24.3% in the first quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider's stock valued at $4,044,000 after acquiring an additional 124,794 shares during the last quarter. Penn Capital Management Company LLC acquired a new stake in Gilat Satellite Networks during the 1st quarter worth $2,755,000. Finally, LBP AM SA grew its holdings in Gilat Satellite Networks by 22.3% during the 1st quarter. LBP AM SA now owns 424,697 shares of the communications equipment provider's stock worth $2,697,000 after acquiring an additional 77,429 shares during the period. Institutional investors and hedge funds own 35.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GILT. Needham & Company LLC reaffirmed a "buy" rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Tuesday, May 20th. Wall Street Zen cut Gilat Satellite Networks from a "buy" rating to a "hold" rating in a report on Wednesday, May 28th.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT traded down $0.04 during trading on Wednesday, reaching $6.24. The company had a trading volume of 694,764 shares, compared to its average volume of 314,876. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $8.05. The business's 50 day moving average price is $6.16 and its 200-day moving average price is $6.45. The stock has a market cap of $355.80 million, a PE ratio of 26.00 and a beta of 0.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.41.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). Gilat Satellite Networks had a net margin of 4.32% and a return on equity of 8.16%. The company had revenue of $92.04 million during the quarter, compared to analyst estimates of $100.67 million. Analysts expect that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.