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 released on Wednesday morning, BidAskClub reports.

Separately, ValuEngine raised shares of Gilat Satellite Networks from a hold rating to a buy rating in a research note on Thursday, July 11th.

Shares of Gilat Satellite Networks stock opened at $8.32 on Wednesday. The firm has a 50-day simple moving average of $8.41 and a two-hundred day simple moving average of $8.65. The company has a market cap of $457.95 million, a P/E ratio of 25.81 and a beta of 0.64. Gilat Satellite Networks has a fifty-two week low of $7.60 and a fifty-two week high of $10.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.47 and a current ratio of 1.68.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Tuesday, August 6th. The communications equipment provider reported $0.08 earnings per share for the quarter. The business had revenue of $59.69 million during the quarter. Gilat Satellite Networks had a net margin of 7.93% and a return on equity of 7.79%.

Several hedge funds have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Gilat Satellite Networks by 0.3% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 923,942 shares of the communications equipment provider’s stock worth $7,817,000 after purchasing an additional 2,414 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Gilat Satellite Networks by 21.5% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 859,623 shares of the communications equipment provider’s stock worth $7,272,000 after purchasing an additional 152,153 shares in the last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 6,719 shares in the last quarter. Meitav Dash Investments Ltd. increased its stake in shares of Gilat Satellite Networks by 25.8% during the first quarter. Meitav Dash Investments Ltd. now owns 414,972 shares of the communications equipment provider’s stock worth $3,408,000 after purchasing an additional 84,992 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Gilat Satellite Networks during the fourth quarter worth about $2,107,000. 16.53% of the stock is owned by institutional investors and hedge funds.

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.

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