Gilat Satellite Networks (NASDAQ:GILT) Cut to "Buy" at StockNews.com

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Monday.

Gilat Satellite Networks Trading Down 2.5 %

NASDAQ GILT traded down $0.14 on Monday, reaching $5.46. The company had a trading volume of 165,879 shares, compared to its average volume of 159,987. The stock's 50 day moving average is $5.89 and its 200-day moving average is $6.08. The stock has a market cap of $311.33 million, a price-to-earnings ratio of 13.00 and a beta of 0.59. The company has a quick ratio of 1.60, a current ratio of 1.90 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 52 week low of $4.51 and a 52 week high of $7.16.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%. The business had revenue of $75.61 million during the quarter.

Institutional Investors Weigh In On Gilat Satellite Networks

Several large investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in shares of Gilat Satellite Networks by 74.8% in the first quarter. Royal Bank of Canada now owns 3,501 shares of the communications equipment provider's stock worth $31,000 after acquiring an additional 1,498 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Gilat Satellite Networks by 4.3% in the first quarter. Goldman Sachs Group Inc. now owns 48,999 shares of the communications equipment provider's stock worth $432,000 after acquiring an additional 1,999 shares in the last quarter. Susquehanna International Group Ltd. increased its holdings in shares of Gilat Satellite Networks by 15.4% in the fourth quarter. Susquehanna International Group Ltd. now owns 15,131 shares of the communications equipment provider's stock worth $84,000 after acquiring an additional 2,016 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Gilat Satellite Networks by 17.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider's stock worth $131,000 after acquiring an additional 2,999 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Gilat Satellite Networks by 10.8% during the third quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider's stock worth $234,000 after buying an additional 3,533 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Company Profile

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.