Gilat Satellite Networks (GILT) Upgraded to “Buy” at ValuEngine

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, BidaskClub downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Gilat Satellite Networks (NASDAQ GILT) traded up $0.03 during midday trading on Tuesday, reaching $7.51. 42,000 shares of the company’s stock were exchanged, compared to its average volume of 17,125. The company has a quick ratio of 1.45, a current ratio of 1.65 and a debt-to-equity ratio of 0.06. The company has a market cap of $409.43, a P/E ratio of 50.07 and a beta of 1.02. Gilat Satellite Networks has a 52-week low of $4.12 and a 52-week high of $8.40.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, November 14th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Gilat Satellite Networks had a net margin of 2.83% and a return on equity of 7.58%. The firm had revenue of $69.94 million during the quarter.

Several institutional investors have recently modified their holdings of GILT. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Gilat Satellite Networks by 8,747,337.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 699,795 shares of the communications equipment provider’s stock worth $5,413,000 after acquiring an additional 699,787 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Gilat Satellite Networks by 2.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,814,930 shares of the communications equipment provider’s stock worth $21,773,000 after acquiring an additional 54,176 shares during the period. ARK Investment Management LLC bought a new stake in shares of Gilat Satellite Networks during the 4th quarter worth approximately $290,000. Ramsey Quantitative Systems bought a new stake in shares of Gilat Satellite Networks during the 4th quarter worth approximately $201,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Gilat Satellite Networks during the 4th quarter worth approximately $150,000. 9.25% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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