Gilat Satellite Networks (NASDAQ:GILT) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.14 and traded as high as $14.64. Gilat Satellite Networks shares last traded at $14.36, with a volume of 565,305 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GILT. Wall Street Zen upgraded shares of Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Freedom Capital upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Gilat Satellite Networks Trading Down 2.9%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.62 and a current ratio of 1.84. The company has a market capitalization of $821.54 million, a PE ratio of 43.52 and a beta of 0.82. The stock has a fifty day moving average of $15.57 and a 200 day moving average of $13.14.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The business had revenue of $136.96 million during the quarter, compared to the consensus estimate of $133.56 million. As a group, sell-side analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Several hedge funds and other institutional investors have recently made changes to their positions in GILT. XTX Topco Ltd raised its holdings in shares of Gilat Satellite Networks by 31.3% in the fourth quarter. XTX Topco Ltd now owns 32,176 shares of the communications equipment provider’s stock worth $416,000 after buying an additional 7,666 shares during the period. Quadrature Capital Ltd bought a new position in Gilat Satellite Networks in the 4th quarter valued at $444,000. Numerai GP LLC increased its stake in Gilat Satellite Networks by 224.0% in the fourth quarter. Numerai GP LLC now owns 58,049 shares of the communications equipment provider’s stock worth $751,000 after purchasing an additional 40,133 shares during the period. Millennium Management LLC lifted its position in shares of Gilat Satellite Networks by 1,809.5% during the fourth quarter. Millennium Management LLC now owns 386,014 shares of the communications equipment provider’s stock worth $4,995,000 after purchasing an additional 365,799 shares during the last quarter. Finally, Altshuler Shaham Ltd boosted its stake in shares of Gilat Satellite Networks by 4,494.6% during the fourth quarter. Altshuler Shaham Ltd now owns 475,171 shares of the communications equipment provider’s stock valued at $5,686,000 after purchasing an additional 464,829 shares during the period. Hedge funds and other institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.