Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Update

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 58,100 shares, a growth of 108.2% from the March 31st total of 27,900 shares. Based on an average daily trading volume, of 171,900 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

Gilat Satellite Networks Price Performance

Shares of Gilat Satellite Networks stock traded up $0.06 on Friday, hitting $5.14. 118,728 shares of the company traded hands, compared to its average volume of 216,412. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.90. The business has a 50-day simple moving average of $5.66 and a 200 day simple moving average of $6.01. Gilat Satellite Networks has a 52 week low of $4.53 and a 52 week high of $7.16. The stock has a market capitalization of $293.07 million, a P/E ratio of 12.24 and a beta of 0.59.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 15th.

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds have recently made changes to their positions in the company. First Wilshire Securities Management Inc. raised its stake in Gilat Satellite Networks by 145.7% during the fourth quarter. First Wilshire Securities Management Inc. now owns 743,506 shares of the communications equipment provider's stock valued at $4,543,000 after purchasing an additional 440,843 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Gilat Satellite Networks by 381.5% during the 3rd quarter. Acadian Asset Management LLC now owns 451,343 shares of the communications equipment provider's stock valued at $2,894,000 after buying an additional 357,609 shares in the last quarter. Kent Lake Capital LLC lifted its holdings in shares of Gilat Satellite Networks by 1,063.8% in the 3rd quarter. Kent Lake Capital LLC now owns 350,000 shares of the communications equipment provider's stock valued at $2,250,000 after acquiring an additional 319,926 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. purchased a new position in Gilat Satellite Networks in the third quarter worth about $1,089,000. Finally, Assenagon Asset Management S.A. bought a new stake in Gilat Satellite Networks during the third quarter worth approximately $640,000. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

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