Gilat Satellite Networks Ltd. (GILT) Issues Quarterly Earnings Results
Gilat Satellite Networks Ltd. (NASDAQ:GILT) released its quarterly earnings data on Tuesday. The communications equipment provider reported $0.08 earnings per share for the quarter, Morningstar.com reports. Gilat Satellite Networks had a negative net margin of 0.72% and a positive return on equity of 3.44%.
Gilat Satellite Networks (NASDAQ:GILT) traded up 2.9981% on Tuesday, reaching $5.5104. 38,452 shares of the company’s stock traded hands. The firm’s market cap is $300.99 million. Gilat Satellite Networks has a 52-week low of $4.12 and a 52-week high of $6.19. The stock’s 50 day moving average is $5.08 and its 200 day moving average is $5.19.
GILT has been the topic of several research reports. BidaskClub upgraded shares of Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. TheStreet lowered shares of Gilat Satellite Networks from a “c-” rating to a “d” rating in a research note on Monday, June 26th.
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A number of hedge funds have recently made changes to their positions in GILT. Renaissance Technologies LLC increased its stake in shares of Gilat Satellite Networks by 0.5% in the first quarter. Renaissance Technologies LLC now owns 2,710,054 shares of the communications equipment provider’s stock valued at $13,713,000 after buying an additional 12,800 shares during the period. Stelliam Investment Management LP bought a new stake in shares of Gilat Satellite Networks during the first quarter valued at approximately $1,698,000. Norges Bank acquired a new stake in Gilat Satellite Networks during the fourth quarter worth about $1,065,000. Finally, Edmond DE Rothschild Holding S.A. increased its stake in Gilat Satellite Networks by 21.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 34,456 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 6,000 shares during the period. Hedge funds and other institutional investors own 7.92% of the company’s stock.
Gilat Satellite Networks Company Profile
Gilat Satellite Networks Ltd. is a provider of satellite-based broadband communications. The Company operates through three segments: Commercial, Mobility and Services divisions. The Company designs and manufactures satellite ground segment and networking communications equipment, which it sells to its customers either as network components (modems, Block Up converters (BUCs), antennas) or as complete network solutions (which include hubs and related terminals and services) or turnkey projects.
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