Gilat Satellite Networks (NASDAQ:GILT) Raised to “Hold” at BidaskClub

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

Separately, TheStreet cut shares of Gilat Satellite Networks from a b rating to a c+ rating in a research note on Monday, June 8th.

Shares of Gilat Satellite Networks stock opened at $5.59 on Thursday. Gilat Satellite Networks has a twelve month low of $4.70 and a twelve month high of $10.76. The company has a 50-day simple moving average of $5.80 and a two-hundred day simple moving average of $7.79. The stock has a market capitalization of $310.19 million, a price-to-earnings ratio of 14.33 and a beta of 0.96.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Wednesday, June 3rd. The communications equipment provider reported ($0.16) earnings per share for the quarter. Gilat Satellite Networks had a return on equity of 4.45% and a net margin of 8.82%. The business had revenue of $47.67 million during the quarter.

Several large investors have recently modified their holdings of the company. Alpine Associates Management Inc. acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at approximately $11,939,000. Water Island Capital LLC acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at approximately $6,536,000. Norges Bank acquired a new position in shares of Gilat Satellite Networks in the 4th quarter valued at approximately $11,426,000. Dupont Capital Management Corp acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at approximately $2,680,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at approximately $2,626,000. Institutional investors own 28.63% 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.

Featured Article: Why do corrections happen?

Receive News & Ratings for Gilat Satellite Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilat Satellite Networks and related companies with MarketBeat.com's FREE daily email newsletter.