Gilat Satellite Networks (NASDAQ:GILT) Downgraded to “Sell” at BidaskClub

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

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

Shares of GILT stock opened at $7.90 on Thursday. The stock has a fifty day moving average of $8.44 and a 200 day moving average of $8.69. Gilat Satellite Networks has a 52 week low of $7.60 and a 52 week high of $10.74. The firm has a market capitalization of $425.29 million, a price-to-earnings ratio of 23.97 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 (NASDAQ:GILT) last announced its quarterly earnings results on Tuesday, August 6th. The communications equipment provider reported $0.08 EPS for the quarter. Gilat Satellite Networks had a return on equity of 7.79% and a net margin of 7.93%. The company had revenue of $59.69 million during the quarter.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Menora Mivtachim Holdings LTD. raised its holdings in Gilat Satellite Networks by 0.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 214,974 shares of the communications equipment provider’s stock worth $1,806,000 after purchasing an additional 1,892 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in Gilat Satellite Networks by 0.3% in 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. Jane Street Group LLC raised its holdings in Gilat Satellite Networks by 18.5% in the fourth quarter. Jane Street Group LLC now owns 17,829 shares of the communications equipment provider’s stock worth $163,000 after purchasing an additional 2,788 shares in the last quarter. ARK Investment Management LLC raised its holdings in Gilat Satellite Networks by 7.3% in the second quarter. ARK Investment Management LLC now owns 54,388 shares of the communications equipment provider’s stock worth $460,000 after purchasing an additional 3,683 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Gilat Satellite Networks in the first quarter worth $33,000. Institutional investors and hedge funds own 16.39% of the company’s stock.

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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