Gilat Satellite Networks (NASDAQ:GILT) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Separately, ValuEngine lowered shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
Shares of Gilat Satellite Networks (GILT) traded up $0.04 during midday trading on Friday, reaching $8.06. 22,819 shares of the company’s stock traded hands, compared to its average volume of 13,774. The company has a quick ratio of 1.45, a current ratio of 1.65 and a debt-to-equity ratio of 0.06. Gilat Satellite Networks has a 1-year low of $4.12 and a 1-year high of $8.40. The company has a market cap of $440.91, a price-to-earnings ratio of 53.70 and a beta of 0.96.
A hedge fund recently raised its stake in Gilat Satellite Networks stock. Renaissance Technologies LLC boosted its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,723,554 shares of the communications equipment provider’s stock after purchasing an additional 13,500 shares during the quarter. Renaissance Technologies LLC owned about 4.99% of Gilat Satellite Networks worth $14,054,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.94% 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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