Gilat Satellite Networks’ (GILT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research note released on Friday morning,Benzinga reports. They currently have a $8.50 price objective on the communications equipment provider’s stock.

Separately, William Blair began coverage on Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Stock Performance

Shares of GILT stock opened at $5.03 on Friday. The stock has a fifty day moving average price of $5.01 and a 200 day moving average price of $4.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.17. The stock has a market cap of $286.81 million, a PE ratio of 17.35 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Clearline Capital LP grew its holdings in Gilat Satellite Networks by 510.5% during the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after buying an additional 83,127 shares during the last quarter. PDT Partners LLC lifted its position in shares of Gilat Satellite Networks by 51.1% in the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock valued at $145,000 after acquiring an additional 9,287 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Gilat Satellite Networks during the 3rd quarter worth about $27,000. Foundry Partners LLC increased its position in Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after purchasing an additional 8,045 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Gilat Satellite Networks in the 3rd quarter valued at about $140,000. 35.72% 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 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.