Gilat Satellite Networks (NASDAQ:GILT) Downgraded to "Hold" Rating by Wall Street Zen

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Wednesday.

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Tuesday, May 20th.

Gilat Satellite Networks Stock Performance

NASDAQ:GILT traded down $0.11 during mid-day trading on Wednesday, hitting $5.55. 252,749 shares of the company traded hands, compared to its average volume of 310,714. The stock's fifty day moving average price is $6.15 and its 200-day moving average price is $6.40. Gilat Satellite Networks has a one year low of $4.04 and a one year 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 firm has a market cap of $316.44 million, a price-to-earnings ratio of 12.61 and a beta of 0.37.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. The company had revenue of $92.04 million for the quarter, compared to the consensus estimate of $100.67 million. Research analysts anticipate that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in shares of Gilat Satellite Networks by 3.4% in the fourth quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider's stock worth $405,000 after acquiring an additional 2,158 shares during the period. PDT Partners LLC lifted its position in shares of Gilat Satellite Networks by 8.4% in the fourth quarter. PDT Partners LLC now owns 29,758 shares of the communications equipment provider's stock worth $183,000 after buying an additional 2,305 shares in the last quarter. Covestor Ltd purchased a new stake in shares of Gilat Satellite Networks in the fourth quarter worth about $29,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Gilat Satellite Networks by 22.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 53,600 shares of the communications equipment provider's stock worth $330,000 after buying an additional 10,000 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC purchased a new stake in shares of Gilat Satellite Networks in the first quarter worth about $67,000. Institutional investors own 35.72% of the company's stock.

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.