Gilat Satellite Networks (NASDAQ:GILT) Share Price Crosses Above 200 Day Moving Average of $5.79

Gilat Satellite Networks Ltd. (NASDAQ:GILT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.79 and traded as high as $6.50. Gilat Satellite Networks shares last traded at $6.47, with a volume of 71,877 shares trading hands.

Analysts Set New Price Targets

GILT has been the topic of a number of analyst reports. StockNews.com started coverage on shares of Gilat Satellite Networks in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a report on Thursday, August 10th.

Gilat Satellite Networks Trading Down 0.6 %

The firm has a market cap of $366.33 million, a PE ratio of 58.82 and a beta of 0.54. The firm’s 50 day simple moving average is $6.50 and its 200 day simple moving average is $5.79.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported $0.08 EPS for the quarter. The business had revenue of $67.59 million for the quarter. Gilat Satellite Networks had a net margin of 2.31% and a return on equity of 7.69%.

Institutional Trading of Gilat Satellite Networks

Several hedge funds have recently modified their holdings of the company. Phoenix Holdings Ltd. lifted its holdings in shares of Gilat Satellite Networks by 61.1% in the 4th quarter. Phoenix Holdings Ltd. now owns 3,433,619 shares of the communications equipment provider’s stock valued at $19,836,000 after acquiring an additional 1,302,645 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new position in shares of Gilat Satellite Networks in the 1st quarter worth approximately $307,000. LA Financiere DE L Echiquier bought a new position in shares of Gilat Satellite Networks during the 4th quarter valued at approximately $174,000. Meitav Investment House Ltd. raised its holdings in Gilat Satellite Networks by 1.4% during the 1st quarter. Meitav Investment House Ltd. now owns 3,675,833 shares of the communications equipment provider’s stock valued at $18,315,000 after buying an additional 51,942 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Gilat Satellite Networks in the fourth quarter worth $267,000. 32.55% of the stock is owned by hedge funds and other institutional investors.

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.