Gilat Satellite Networks (NASDAQ:GILT) Rating Lowered to Hold at Wall Street Zen

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research note on Tuesday, May 20th.

Gilat Satellite Networks Price Performance

GILT stock opened at $5.81 on Wednesday. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $8.05. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $6.21 and a two-hundred day simple moving average of $6.38. The firm has a market capitalization of $331.27 million, a P/E ratio of 13.20 and a beta of 0.37.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. The firm had revenue of $92.04 million during the quarter, compared to analysts’ expectations of $100.67 million. Analysts anticipate that Gilat Satellite Networks 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 the company. Covestor Ltd purchased a new position in Gilat Satellite Networks in the 4th quarter worth about $29,000. Blue Bell Private Wealth Management LLC purchased a new position in Gilat Satellite Networks in the 1st quarter worth about $67,000. Quarry LP purchased a new position in Gilat Satellite Networks in the 4th quarter worth about $68,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Gilat Satellite Networks in the 4th quarter worth about $85,000. Finally, Boothbay Fund Management LLC purchased a new position in Gilat Satellite Networks in the 4th quarter worth about $86,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

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.