Gilat Satellite Networks (NASDAQ:GILT) Raised to Sell at BidaskClub

BidaskClub upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong sell rating to a sell rating in a research report report published on Thursday morning, BidAskClub reports.

Separately, ValuEngine raised shares of Gilat Satellite Networks from a hold rating to a buy rating in a research note on Saturday, October 19th.

NASDAQ:GILT traded up $0.10 during trading hours on Thursday, hitting $8.36. The stock had a trading volume of 12,200 shares, compared to its average volume of 16,993. Gilat Satellite Networks has a one year low of $7.32 and a one year high of $9.87. 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 company has a market cap of $452.95 million, a price-to-earnings ratio of 24.03 and a beta of 0.66. The business’s 50 day moving average is $8.02 and its 200-day moving average is $8.32.

A number of large investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd increased its stake in Gilat Satellite Networks by 0.3% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 923,942 shares of the communications equipment provider’s stock valued at $7,817,000 after purchasing an additional 2,414 shares in the last quarter. ARK Investment Management LLC increased its position in shares of Gilat Satellite Networks by 7.3% during the second quarter. ARK Investment Management LLC now owns 54,388 shares of the communications equipment provider’s stock worth $460,000 after acquiring an additional 3,683 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Gilat Satellite Networks by 0.7% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 865,582 shares of the communications equipment provider’s stock worth $7,254,000 after acquiring an additional 5,959 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Gilat Satellite Networks by 0.9% during the second quarter. Vanguard Group Inc. now owns 733,930 shares of the communications equipment provider’s stock worth $6,209,000 after acquiring an additional 6,719 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Gilat Satellite Networks by 26.8% during the second quarter. Swiss National Bank now owns 56,466 shares of the communications equipment provider’s stock worth $483,000 after acquiring an additional 11,917 shares in the last quarter. 16.41% of the stock is owned by hedge funds and other institutional investors.

Gilat Satellite Networks Company Profile

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.

Further Reading: Support Level

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