Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.76 and traded as high as $9.40. Gilat Satellite Networks shares last traded at $9.15, with a volume of 3,829,133 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on GILT. Needham & Company LLC lifted their target price on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research report on Saturday.
View Our Latest Analysis on Gilat Satellite Networks
Gilat Satellite Networks Trading Up 1.0%
The company's fifty day simple moving average is $7.14 and its two-hundred day simple moving average is $6.78. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $508.02 million, a price-to-earnings ratio of 22.77 and a beta of 0.46.
Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.17. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%. The firm had revenue of $105.00 million during the quarter, compared to analysts' expectations of $100.99 million. Research analysts forecast that Gilat Satellite Networks Ltd. 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 Advisors LLC bought a new position in Gilat Satellite Networks in the first quarter valued at $308,000. Bank of America Corp DE lifted its stake in shares of Gilat Satellite Networks by 83.4% during the 4th quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider's stock worth $305,000 after buying an additional 22,515 shares during the last quarter. Royce & Associates LP acquired a new stake in shares of Gilat Satellite Networks during the 1st quarter worth about $4,434,000. Lazard Asset Management LLC lifted its stake in shares of Gilat Satellite Networks by 62.9% during the 4th quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider's stock worth $1,028,000 after buying an additional 64,610 shares during the last quarter. Finally, LBP AM SA increased its position in Gilat Satellite Networks by 22.3% during the first 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 own 35.72% of the company's stock.
About Gilat Satellite Networks
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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.
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