Gilat Satellite Networks (NASDAQ:GILT) Coverage Initiated at William Blair

Analysts at William Blair initiated coverage on shares of Gilat Satellite Networks (NASDAQ:GILT) in a report released on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating on the communications equipment provider’s stock.

A number of other research analysts have also commented on the company. StockNews.com lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a report on Thursday, August 8th.

Gilat Satellite Networks Trading Down 1.8 %

NASDAQ GILT opened at $5.13 on Thursday. The stock has a market capitalization of $292.21 million, a price-to-earnings ratio of 12.51 and a beta of 0.58. The stock’s 50 day moving average price is $4.59 and its two-hundred day moving average price is $5.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $6.80.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. The business had revenue of $76.63 million for the quarter. Gilat Satellite Networks had a return on equity of 8.23% and a net margin of 6.80%.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after purchasing an additional 24,204 shares during the period. Foundry Partners LLC grew its stake in Gilat Satellite Networks by 27.4% during the second quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock worth $3,693,000 after purchasing an additional 177,675 shares during the period. AWM Investment Company Inc. acquired a new stake in Gilat Satellite Networks during the first quarter worth approximately $4,201,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Gilat Satellite Networks during the second quarter worth approximately $3,000,000. Finally, ARK Investment Management LLC grew its stake in Gilat Satellite Networks by 12.4% during the second quarter. ARK Investment Management LLC now owns 403,249 shares of the communications equipment provider’s stock worth $1,803,000 after purchasing an additional 44,499 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.