Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Update

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 248,400 shares, an increase of 80.9% from the January 15th total of 137,300 shares. Based on an average daily trading volume, of 389,600 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter worth about $27,000. Covestor Ltd bought a new stake in Gilat Satellite Networks during the fourth quarter worth approximately $29,000. Virtu Financial LLC purchased a new stake in Gilat Satellite Networks during the third quarter valued at approximately $61,000. Quarry LP bought a new stake in shares of Gilat Satellite Networks in the 4th quarter valued at approximately $68,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Gilat Satellite Networks in the 4th quarter worth approximately $85,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

GILT traded down $0.06 during trading on Friday, hitting $6.78. 552,955 shares of the company traded hands, compared to its average volume of 400,362. The company has a market cap of $386.60 million, a PE ratio of 23.38 and a beta of 0.60. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $7.76. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $6.54 and its two-hundred day simple moving average is $5.49.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.30% and a net margin of 5.46%. As a group, sell-side analysts anticipate that Gilat Satellite Networks will post 0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Thursday.

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.