Gilat Satellite Networks (NASDAQ:GILT) Upgraded by BidaskClub to Hold

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Gilat Satellite Networks from a “c” rating to a “b” rating in a research report on Wednesday, December 11th. ValuEngine downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, January 18th.

Gilat Satellite Networks stock opened at $7.34 on Friday. The company has a market cap of $397.03 million, a P/E ratio of 11.29 and a beta of 0.59. Gilat Satellite Networks has a 1-year low of $4.70 and a 1-year high of $10.76. The company has a fifty day simple moving average of $8.53 and a 200 day simple moving average of $8.36. The company has a current ratio of 1.85, a quick ratio of 1.62 and a debt-to-equity ratio of 0.02.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Wednesday, February 19th. The communications equipment provider reported $0.16 earnings per share for the quarter. The business had revenue of $78.31 million during the quarter. Gilat Satellite Networks had a net margin of 13.87% and a return on equity of 9.78%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Gilat Satellite Networks by 0.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,957,417 shares of the communications equipment provider’s stock valued at $23,304,000 after acquiring an additional 8,159 shares during the period. Phoenix Holdings Ltd. grew its position in shares of Gilat Satellite Networks by 8.9% in the 4th quarter. Phoenix Holdings Ltd. now owns 1,960,556 shares of the communications equipment provider’s stock valued at $15,343,000 after acquiring an additional 160,358 shares during the period. Norges Bank bought a new position in shares of Gilat Satellite Networks in the 4th quarter valued at about $11,426,000. Swiss National Bank grew its position in shares of Gilat Satellite Networks by 2.9% in the 4th quarter. Swiss National Bank now owns 58,091 shares of the communications equipment provider’s stock valued at $459,000 after acquiring an additional 1,625 shares during the period. Finally, State Street Corp grew its position in shares of Gilat Satellite Networks by 14.7% in the 4th quarter. State Street Corp now owns 47,125 shares of the communications equipment provider’s stock valued at $370,000 after acquiring an additional 6,051 shares during the period. 15.13% of the stock is owned by institutional investors.

About Gilat Satellite Networks

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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