Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 556,600 shares, an increase of 89.5% from the February 13th total of 293,700 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 493,600 shares, the short-interest ratio is presently 1.1 days.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Wednesday, February 26th.
Check Out Our Latest Research Report on GILT
Gilat Satellite Networks Stock Performance
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. Equities research analysts predict that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.
Institutional Investors Weigh In On Gilat Satellite Networks
Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new stake in Gilat Satellite Networks in the third quarter worth about $27,000. Covestor Ltd acquired a new stake in Gilat Satellite Networks in the 4th quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in Gilat Satellite Networks in the 3rd quarter valued at about $61,000. Quarry LP acquired a new stake in Gilat Satellite Networks in the 4th quarter valued at about $68,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Gilat Satellite Networks in the 4th quarter valued at about $85,000. 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.
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