Gilat Satellite Networks (NASDAQ:GILT) Stock Passes Above 200 Day Moving Average – Time to Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.14 and traded as high as $14.64. Gilat Satellite Networks shares last traded at $14.36, with a volume of 565,305 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Gilat Satellite Networks from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Finally, Freedom Capital raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Gilat Satellite Networks Trading Down 2.9%

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.84 and a quick ratio of 1.62. The firm’s 50 day moving average price is $15.57 and its 200 day moving average price is $13.14. The stock has a market capitalization of $821.54 million, a P/E ratio of 43.52 and a beta of 0.82.

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, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $136.96 million for the quarter, compared to analysts’ expectations of $133.56 million. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. As a group, equities research analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its holdings in Gilat Satellite Networks by 82.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 960 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Gilat Satellite Networks during the 3rd quarter valued at about $26,000. Huntington National Bank boosted its holdings in shares of Gilat Satellite Networks by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 2,000 shares during the last quarter. Signaturefd LLC grew its stake in shares of Gilat Satellite Networks by 104.5% in the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after acquiring an additional 2,105 shares during the period. Finally, Raymond James Financial Inc. grew its stake in shares of Gilat Satellite Networks by 9.8% in the third quarter. Raymond James Financial Inc. now owns 24,412 shares of the communications equipment provider’s stock worth $318,000 after acquiring an additional 2,173 shares during the period. Hedge funds and other institutional investors own 35.72% of the company’s stock.

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.