Short Interest in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Decreases By 14.3%

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 481,900 shares, a decrease of 14.3% from the March 31st total of 562,100 shares. Approximately 0.9% of the company's shares are short sold. Based on an average daily volume of 383,100 shares, the days-to-cover ratio is currently 1.3 days.

Gilat Satellite Networks Trading Down 1.1 %

Shares of GILT traded down $0.07 during trading hours on Tuesday, reaching $6.36. The stock had a trading volume of 135,011 shares, compared to its average volume of 286,506. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $8.05. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. The company has a market cap of $362.74 million, a P/E ratio of 14.46 and a beta of 0.37. The firm has a 50-day moving average of $6.45 and a 200 day moving average of $6.28.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. On average, sell-side analysts expect that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Large investors have recently made changes to their positions in the stock. Inspire Investing LLC bought a new stake in Gilat Satellite Networks in the 4th quarter valued at $864,000. Virtu Financial LLC bought a new stake in shares of Gilat Satellite Networks in the third quarter valued at about $61,000. Raymond James Financial Inc. acquired a new position in shares of Gilat Satellite Networks during the fourth quarter worth about $226,000. Van ECK Associates Corp grew its holdings in shares of Gilat Satellite Networks by 279.0% during the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider's stock worth $839,000 after buying an additional 100,396 shares in the last quarter. Finally, Diametric Capital LP raised its position in Gilat Satellite Networks by 38.5% in the 4th quarter. Diametric Capital LP now owns 38,691 shares of the communications equipment provider's stock valued at $238,000 after buying an additional 10,759 shares during the last quarter. Institutional investors own 35.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GILT shares. StockNews.com lowered Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th. Needham & Company LLC restated a "buy" rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a report on Wednesday, February 26th.

About Gilat Satellite Networks

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.