Gilat Satellite Networks (NASDAQ:GILT) Downgraded by Wall Street Zen to Hold

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

GILT has been the subject of several other research reports. Freedom Capital raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Gilat Satellite Networks Stock Performance

Shares of NASDAQ GILT opened at $15.90 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $909.64 million, a P/E ratio of 48.18 and a beta of 0.82. Gilat Satellite Networks has a 12 month low of $5.30 and a 12 month high of $20.38. The stock has a 50 day moving average of $15.91 and a 200-day moving average of $13.27.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%.The business had revenue of $136.96 million during the quarter, compared to analysts’ expectations of $133.56 million. As a group, equities research analysts predict that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Trading of Gilat Satellite Networks

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd grew its position in Gilat Satellite Networks by 31.3% during the fourth quarter. XTX Topco Ltd now owns 32,176 shares of the communications equipment provider’s stock valued at $416,000 after buying an additional 7,666 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Gilat Satellite Networks during the 4th quarter worth $444,000. Numerai GP LLC grew its position in shares of Gilat Satellite Networks by 224.0% during the 4th quarter. Numerai GP LLC now owns 58,049 shares of the communications equipment provider’s stock valued at $751,000 after acquiring an additional 40,133 shares during the period. Millennium Management LLC increased its stake in shares of Gilat Satellite Networks by 1,809.5% in the 4th quarter. Millennium Management LLC now owns 386,014 shares of the communications equipment provider’s stock worth $4,995,000 after purchasing an additional 365,799 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its holdings in Gilat Satellite Networks by 4,494.6% in the 4th quarter. Altshuler Shaham Ltd now owns 475,171 shares of the communications equipment provider’s stock worth $5,686,000 after purchasing an additional 464,829 shares during the period. 35.72% of the stock is currently owned by institutional investors.

About Gilat Satellite Networks

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.