Gilat Satellite Networks (NASDAQ:GILT) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Gilat Satellite Networks stock price has recently crossed above the 200-day moving average, trading at $13.84, significantly higher than its average of $8.18.
• Analysts have mixed ratings on Gilat Satellite Networks, with Needham upgrading the stock to a "buy" with a target price of $11.00, while Zacks downgraded it to a "hold."
• The company's latest earnings report showed an EPS of $0.21, surpassing expectations, and a revenue of $105 million for the quarter.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.18 and traded as high as $14.64. Gilat Satellite Networks shares last traded at $13.84, with a volume of 940,530 shares.

Analyst Upgrades and Downgrades

GILT has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Gilat Satellite Networks in a research note on Wednesday, October 8th. Needham & Company LLC lifted their target price on 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 raised Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 4th. Finally, Zacks Research cut shares of Gilat Satellite Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $11.00.

Gilat Satellite Networks Price Performance

The business has a 50-day moving average of $11.13 and a two-hundred day moving average of $8.18. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The firm has a market cap of $791.79 million, a P/E ratio of 35.49 and a beta of 0.58.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $100.99 million. On average, sell-side analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Advisors LLC acquired a new position in shares of Gilat Satellite Networks during the first quarter worth $308,000. Royce & Associates LP acquired a new stake in Gilat Satellite Networks in the first quarter valued at $4,434,000. Acadian Asset Management LLC raised its position in Gilat Satellite Networks by 24.3% during the 1st quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider's stock worth $4,044,000 after purchasing an additional 124,794 shares during the last quarter. LBP AM SA lifted its holdings in Gilat Satellite Networks by 33.3% during the 2nd quarter. LBP AM SA now owns 566,075 shares of the communications equipment provider's stock worth $4,013,000 after buying an additional 141,378 shares during the period. Finally, Apis Capital Advisors LLC bought a new stake in shares of Gilat Satellite Networks in the 1st quarter valued at about $444,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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