Short Interest in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Rises By 251.3%

Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 69,900 shares, an increase of 251.3% from the September 15th total of 19,900 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 176,400 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

GILT has been the topic of several research analyst reports. StockNews.com cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 19th. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a report on Thursday, August 8th. Finally, William Blair began coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Trading Down 0.6 %

Shares of Gilat Satellite Networks stock traded down $0.03 during trading hours on Friday, reaching $4.93. The stock had a trading volume of 95,030 shares, compared to its average volume of 193,381. The firm has a market capitalization of $281.09 million, a price-to-earnings ratio of 12.02 and a beta of 0.59. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.80. The company has a current ratio of 2.14, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $4.70 and a two-hundred day simple moving average of $4.96.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 EPS for the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 8.23%. The firm had revenue of $76.63 million for the quarter. As a group, equities research analysts anticipate that Gilat Satellite Networks will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wedbush Securities Inc. purchased a new position in Gilat Satellite Networks in the second quarter valued at about $46,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Gilat Satellite Networks during the 2nd quarter worth approximately $69,000. Clearline Capital LP purchased a new position in Gilat Satellite Networks in the 2nd quarter worth approximately $73,000. Quadrature Capital Ltd grew its position in Gilat Satellite Networks by 129.3% in the fourth quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock valued at $174,000 after acquiring an additional 16,004 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Gilat Satellite Networks during the second quarter valued at approximately $243,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.