Needham & Company LLC Reaffirms Buy Rating for Gilat Satellite Networks (NASDAQ:GILT)

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $8.50 target price on the communications equipment provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 74.36% from the stock’s previous close.

Separately, William Blair assumed coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating on the stock.

Gilat Satellite Networks Stock Down 2.1 %

Gilat Satellite Networks stock opened at $4.88 on Friday. The firm has a market cap of $277.97 million, a price-to-earnings ratio of 16.81 and a beta of 0.59. The company has a current ratio of 2.14, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 12 month low of $4.04 and a 12 month high of $6.80. The stock has a fifty day simple moving average of $4.99 and a two-hundred day simple moving average of $4.90.

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in shares of Gilat Satellite Networks by 2.3% in the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after acquiring an additional 24,204 shares during the period. Foundry Partners LLC grew its stake in shares of Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after purchasing an additional 8,045 shares during the period. AWM Investment Company Inc. purchased a new stake in shares of Gilat Satellite Networks during the 1st quarter valued at about $4,201,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Gilat Satellite Networks in the 2nd quarter worth approximately $3,000,000. Finally, ARK Investment Management LLC boosted its holdings in shares of Gilat Satellite Networks by 7.9% in the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after buying an additional 31,714 shares during the last quarter. 35.72% of the stock is currently 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 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.