Gilat Satellite Networks Sees Unusually High Options Volume (NASDAQ:GILT)

Key Points

• Gilat Satellite Networks experienced a significant increase in call options trading, with 4,728 call options purchased, marking a 407% increase compared to average volume.
• Several institutional investors, including Blue Bell Private Wealth Management and Walleye Capital, have acquired new stakes in the company, contributing to institutional ownership of 35.72%.
• Analyst ratings have improved for Gilat Satellite Networks, with recent upgrades from Needham & Company and Zacks Research, resulting in a consensus target price of $11.00 for the stock.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) was the target of unusually large options trading on Monday. Stock investors purchased 4,728 call options on the company. Thisisanincreaseof407% compared to the typical volume of 933 call options.

Hedge Funds Weigh In On Gilat Satellite Networks

Several institutional investors and hedge funds have recently modified their holdings of the company. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Gilat Satellite Networks in the first quarter valued at $67,000. State of Wyoming acquired a new stake in Gilat Satellite Networks in the 1st quarter worth about $101,000. Flaharty Asset Management LLC purchased a new stake in Gilat Satellite Networks in the 1st quarter valued at about $108,000. Ritholtz Wealth Management acquired a new position in shares of Gilat Satellite Networks during the 1st quarter valued at about $111,000. Finally, Walleye Capital LLC acquired a new position in shares of Gilat Satellite Networks during the 1st quarter valued at about $111,000. Hedge funds and other institutional investors own 35.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GILT. Needham & Company LLC upped their price objective on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Zacks Research raised shares of Gilat Satellite Networks to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $11.00.

Gilat Satellite Networks Stock Performance

Shares of GILT stock traded up $0.60 during trading hours on Monday, reaching $10.57. 1,658,441 shares of the company's stock were exchanged, compared to its average volume of 478,058. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.17. The company's 50 day moving average is $8.32 and its two-hundred day moving average is $7.08. The company has a market cap of $604.71 million, a P/E ratio of 27.10 and a beta of 0.51. Gilat Satellite Networks has a 1 year low of $4.30 and a 1 year high of $10.65.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.17. The company had revenue of $105.00 million for the quarter, compared to analyst estimates of $100.99 million. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. Equities research analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

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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