Gilat Satellite Networks (NASDAQ:GILT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Separately, TheStreet raised shares of Gilat Satellite Networks from a “c+” rating to a “b-” rating in a research note on Thursday, August 30th.
Gilat Satellite Networks stock opened at $9.18 on Wednesday. The company has a market capitalization of $487.72 million, a PE ratio of 29.67 and a beta of 0.71. Gilat Satellite Networks has a 1 year low of $6.89 and a 1 year high of $10.74. The company has a current ratio of 1.76, a quick ratio of 1.57 and a debt-to-equity ratio of 0.04.
Several institutional investors have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems raised its stake in shares of Gilat Satellite Networks by 47.2% in the 3rd quarter. Ramsey Quantitative Systems now owns 62,106 shares of the communications equipment provider’s stock valued at $532,000 after acquiring an additional 19,917 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Gilat Satellite Networks by 0.9% in the second quarter. Renaissance Technologies LLC now owns 2,894,554 shares of the communications equipment provider’s stock valued at $26,601,000 after purchasing an additional 25,800 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Gilat Satellite Networks in the third quarter valued at approximately $3,928,000. 15.41% of the stock is currently owned by institutional investors and hedge funds.
Gilat Satellite Networks Company Profile
Gilat Satellite Networks Ltd., together with its subsidiaries, provides broadband satellite communication (Satcom) network solutions and services worldwide. The company operates through Commercial, Mobility, and Services divisions. The company designs, manufactures, and provides network management and equipment for Satcom, as well as professional services to satellite operators and service providers.
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