Gilat Satellite Networks (NASDAQ:GILT) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.07 and traded as high as $17.75. Gilat Satellite Networks shares last traded at $17.42, with a volume of 282,963 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on GILT. Wall Street Zen lowered shares of Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Freedom Capital upgraded shares of Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Gilat Satellite Networks Stock Performance

The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 52.79 and a beta of 0.92. The company has a 50-day moving average of $16.72 and a 200-day moving average of $15.07.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last issued its earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.07. The business had revenue of $136.96 million during the quarter, compared to the consensus estimate of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. As a group, equities research analysts forecast that Gilat Satellite Networks Ltd. will post 0.47 EPS for the current year.

Insider Activity at Gilat Satellite Networks

In other news, CEO Adi Sfadia sold 48,978 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total transaction of $825,279.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Doron Kerbel sold 7,500 shares of Gilat Satellite Networks stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $18.03, for a total value of $135,225.00. The disclosure for this sale is available in the SEC filing. 1.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its holdings in shares of Gilat Satellite Networks by 82.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 960 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Gilat Satellite Networks during the third quarter worth $26,000. Huntington National Bank raised its holdings in shares of Gilat Satellite Networks by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider's stock worth $26,000 after acquiring an additional 2,000 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Gilat Satellite Networks by 104.5% during the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider's stock worth $53,000 after acquiring an additional 2,105 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Gilat Satellite Networks by 9.8% during the third quarter. Raymond James Financial Inc. now owns 24,412 shares of the communications equipment provider's stock worth $318,000 after acquiring an additional 2,173 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors and hedge funds.

About Gilat Satellite Networks

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company's core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.

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