Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Update

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 147,800 shares, a growth of 9.6% from the November 15th total of 134,900 shares. Based on an average daily volume of 239,200 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

GILT has been the topic of several analyst reports. William Blair assumed coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Friday, November 15th. Finally, StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Gilat Satellite Networks Stock Up 2.7 %

GILT stock opened at $6.11 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $5.37 and a 200-day simple moving average of $4.94. The company has a market capitalization of $348.37 million, a P/E ratio of 21.10 and a beta of 0.59. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $6.66.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in shares of Gilat Satellite Networks by 4.6% during the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock worth $335,000 after purchasing an additional 2,812 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Gilat Satellite Networks in the third quarter valued at about $27,000. Foundry Partners LLC raised its stake in Gilat Satellite Networks by 1.0% during the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after buying an additional 8,045 shares in the last quarter. PDT Partners LLC lifted its holdings in Gilat Satellite Networks by 51.1% during the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 9,287 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in shares of Gilat Satellite Networks in the 2nd quarter worth approximately $46,000. 35.72% of the stock is owned by institutional investors and hedge funds.

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.