Short Interest in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Expands By 89.5%

Gilat Satellite Networks Ltd. (NASDAQ:GILT) 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.

Gilat Satellite Networks Stock Performance

Shares of GILT traded up $0.11 during midday trading on Friday, hitting $7.04. 278,762 shares of the stock traded hands, compared to its average volume of 280,229. Gilat Satellite Networks has a 1-year low of $4.04 and a 1-year high of $8.05. The firm has a market capitalization of $401.40 million, a PE ratio of 16.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. The business’s 50 day moving average price is $7.02 and its two-hundred day moving average price is $5.88.

Gilat Satellite Networks (NASDAQ:GILT) 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.