Gilat Satellite Networks (NASDAQ:GILT) Rating Lowered to Strong Sell at BidaskClub

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Separately, ValuEngine upgraded Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research report on Saturday, October 19th.

GILT stock traded up $0.04 during midday trading on Tuesday, reaching $8.06. 110 shares of the company traded hands, compared to its average volume of 8,030. Gilat Satellite Networks has a 52-week low of $7.60 and a 52-week high of $10.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.47 and a current ratio of 1.68. The business has a 50 day moving average of $8.23 and a 200-day moving average of $8.43. The firm has a market capitalization of $450.73 million, a price-to-earnings ratio of 24.78 and a beta of 0.67.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Tuesday, August 6th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter. Gilat Satellite Networks had a return on equity of 7.79% and a net margin of 7.93%. The business had revenue of $59.69 million for the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of GILT. Jane Street Group LLC purchased a new stake in shares of Gilat Satellite Networks in the second quarter worth approximately $158,000. ARK Investment Management LLC raised its holdings in shares of Gilat Satellite Networks by 7.3% in the second quarter. ARK Investment Management LLC now owns 54,388 shares of the communications equipment provider’s stock worth $460,000 after buying an additional 3,683 shares during the period. Swiss National Bank raised its holdings in shares of Gilat Satellite Networks by 26.8% in the second quarter. Swiss National Bank now owns 56,466 shares of the communications equipment provider’s stock worth $483,000 after buying an additional 11,917 shares during the period. Vanguard Group Inc. raised its holdings in shares of Gilat Satellite Networks by 0.9% in the second quarter. Vanguard Group Inc. now owns 733,930 shares of the communications equipment provider’s stock worth $6,209,000 after buying an additional 6,719 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Gilat Satellite Networks by 21.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 859,623 shares of the communications equipment provider’s stock worth $7,272,000 after buying an additional 152,153 shares during the period. Hedge funds and other institutional investors own 16.44% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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