Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totalling 80,500 shares, a drop of 70.1% from the February 27th total of 269,600 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 447,800 shares, the short-interest ratio is presently 0.2 days.
Several research analysts recently issued reports on GILT shares. BidaskClub lowered Gilat Satellite Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th. TheStreet raised Gilat Satellite Networks from a “c” rating to a “b” rating in a research report on Wednesday, December 11th. Finally, ValuEngine lowered Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, January 18th.
NASDAQ:GILT traded up $0.43 during trading hours on Thursday, hitting $7.34. 425,541 shares of the company were exchanged, compared to its average volume of 613,265. The stock has a market capitalization of $397.03 million, a price-to-earnings ratio of 11.29 and a beta of 0.59. The company has a current ratio of 1.85, a quick ratio of 1.62 and a debt-to-equity ratio of 0.02. Gilat Satellite Networks has a one year low of $4.70 and a one year high of $10.76. The company has a fifty day simple moving average of $8.53 and a 200 day simple moving average of $8.36.
Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Wednesday, February 19th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $78.31 million during the quarter. Gilat Satellite Networks had a return on equity of 9.78% and a net margin of 13.87%.
Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in shares of Gilat Satellite Networks in the 4th quarter worth about $112,000. Jane Street Group LLC bought a new position in shares of Gilat Satellite Networks in the 4th quarter worth about $296,000. State Street Corp raised its position in shares of Gilat Satellite Networks by 17.6% in the 3rd quarter. State Street Corp now owns 41,074 shares of the communications equipment provider’s stock worth $344,000 after acquiring an additional 6,140 shares in the last quarter. Swiss National Bank raised its position in shares of Gilat Satellite Networks by 2.9% in the 4th quarter. Swiss National Bank now owns 58,091 shares of the communications equipment provider’s stock worth $459,000 after acquiring an additional 1,625 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Gilat Satellite Networks in the 4th quarter worth about $11,426,000. 15.13% of the stock is 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 and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.
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