Gilat Satellite Networks (NASDAQ:GILT) Upgraded at BidaskClub

BidaskClub upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a sell rating to a hold rating in a report published on Wednesday, BidAskClub reports.

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

NASDAQ:GILT opened at $8.32 on Wednesday. The stock’s 50-day simple moving average is $8.41 and its 200 day simple moving average is $8.65. The firm has a market capitalization of $463.48 million, a PE ratio of 26.13 and a beta of 0.64. The company has a quick ratio of 1.47, a current ratio of 1.68 and a debt-to-equity ratio of 0.02. Gilat Satellite Networks has a twelve month low of $7.60 and a twelve month high of $10.74.

Gilat Satellite Networks (NASDAQ:GILT) last released 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 for the quarter. Gilat Satellite Networks had a return on equity of 7.79% and a net margin of 7.93%.

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Gilat Satellite Networks during the fourth quarter worth $2,107,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Gilat Satellite Networks during the first quarter worth $33,000. Meitav Dash Investments Ltd. increased its position in 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 acquiring an additional 84,992 shares during the period. Menora Mivtachim Holdings LTD. increased its holdings in Gilat Satellite Networks by 0.9% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 214,974 shares of the communications equipment provider’s stock valued at $1,806,000 after buying an additional 1,892 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Gilat Satellite Networks by 67.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 921,528 shares of the communications equipment provider’s stock valued at $7,747,000 after buying an additional 370,507 shares during the period. 16.53% of the stock is currently 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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