Gilat Satellite Networks (NASDAQ:GILT) Trading 4.5% Higher - Should You Buy?

Key Points

• Gilat Satellite Networks shares rose 4.5% to approximately $10.35 in mid-day trading, although volume was 85% below the stock’s average daily volume.
• Analyst sentiment remains moderately bullish: MarketBeat reports a consensus “Moderate Buy” rating and a $20.00 target price, despite Zacks Research downgrading the stock to “Hold.”
• Gilat reported quarterly EPS of $0.20 on revenue of $122.66 million. Recent insider sales and institutional ownership of 35.72% provide additional factors for investors to consider.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report)'s share price rose 4.5% during mid-day trading on Tuesday . The stock traded as high as $10.32 and last traded at $10.3450. 126,969 shares traded hands during trading, a decline of 85% from the average daily volume of 828,867 shares. The stock had previously closed at $9.90.

Wall Street Analyst Weigh In

GILT has been the topic of a number of research reports. Zacks Research downgraded Gilat Satellite Networks from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Gilat Satellite Networks in a research report on Thursday, June 18th. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Gilat Satellite Networks Trading Up 1.9%

The firm has a market capitalization of $744.58 million, a P/E ratio of 22.98 and a beta of 1.06. The company's fifty day moving average is $11.44 and its 200-day moving average is $14.64.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter. The company had revenue of $122.66 million for the quarter. Gilat Satellite Networks had a return on equity of 10.12% and a net margin of 6.21%. On average, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.53 EPS for the current year.

Insider Activity

In other Gilat Satellite Networks news, Director Amir Yechiel Ofek sold 3,923 shares of Gilat Satellite Networks stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $11.41, for a total transaction of $44,761.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Arieh Rohrstock sold 17,568 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $15.23, for a total transaction of $267,560.64. Following the completion of the sale, the insider directly owned 7,531 shares in the company, valued at $114,697.13. This trade represents a 69.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.13% of the company's stock.

Institutional Trading of Gilat Satellite Networks

Several institutional investors have recently made changes to their positions in GILT. Huntington National Bank increased its stake in Gilat Satellite Networks by 200,000.0% in the fourth quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider's stock valued at $26,000 after acquiring an additional 2,000 shares during the period. SBI Securities Co. Ltd. lifted its stake in Gilat Satellite Networks by 82.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 960 shares during the period. Smartleaf Asset Management LLC acquired a new stake in Gilat Satellite Networks during the fourth quarter valued at approximately $39,000. Summit Securities Group LLC acquired a new stake in Gilat Satellite Networks during the first quarter valued at approximately $48,000. Finally, Leonteq Securities AG bought a new stake in shares of Gilat Satellite Networks in the 4th quarter valued at approximately $64,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company's core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.

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