Gilat Satellite Networks (NASDAQ:GILT) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.94 and traded as high as $6.14. Gilat Satellite Networks shares last traded at $6.02, with a volume of 178,701 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. William Blair assumed coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating for the company. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Friday, November 15th.

Gilat Satellite Networks Stock Performance

The company has a market cap of $339.27 million, a PE ratio of 20.52 and a beta of 0.59. The company’s fifty day moving average price is $5.35 and its 200 day moving average price is $4.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.84.

Hedge Funds Weigh In On Gilat Satellite Networks

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC raised its position in Gilat Satellite Networks by 4.6% in the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock worth $335,000 after acquiring an additional 2,812 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter worth approximately $27,000. Foundry Partners LLC lifted its stake in Gilat Satellite Networks by 1.0% in the third 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 last quarter. PDT Partners LLC grew its holdings in Gilat Satellite Networks by 51.1% during the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 9,287 shares during the period. Finally, Wedbush Securities Inc. purchased a new stake in Gilat Satellite Networks in the second quarter worth $46,000. Institutional investors 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.