Gilat Satellite Networks (GILT) Upgraded to Buy at ValuEngine

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Separately, BidaskClub downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th.

Shares of Gilat Satellite Networks (NASDAQ:GILT) opened at $8.19 on Tuesday. Gilat Satellite Networks has a 12 month low of $4.12 and a 12 month high of $8.40. The firm has a market cap of $445.42, a PE ratio of 54.60 and a beta of 1.02. The company has a current ratio of 1.65, a quick ratio of 1.45 and a debt-to-equity ratio of 0.06.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, November 14th. The communications equipment provider reported $0.06 earnings per share for the quarter. Gilat Satellite Networks had a net margin of 2.83% and a return on equity of 7.58%. The business had revenue of $69.94 million during the quarter.

Several institutional investors and hedge funds have recently made changes to their positions in GILT. Renaissance Technologies LLC boosted its stake in shares of Gilat Satellite Networks by 0.5% during the second quarter. Renaissance Technologies LLC now owns 2,723,554 shares of the communications equipment provider’s stock worth $14,054,000 after buying an additional 13,500 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Gilat Satellite Networks during the fourth quarter worth about $150,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Gilat Satellite Networks by 8,747,337.5% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 699,795 shares of the communications equipment provider’s stock valued at $5,413,000 after purchasing an additional 699,787 shares during the period. Ramsey Quantitative Systems acquired a new stake in Gilat Satellite Networks in the fourth quarter valued at about $201,000. Finally, ARK Investment Management LLC acquired a new stake in Gilat Satellite Networks in the fourth quarter valued at about $290,000. Institutional investors and hedge funds own 9.25% of the company’s stock.

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Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd. is a provider of satellite-based broadband communications. The Company operates through three segments: Commercial, Mobility and Services divisions. The Company designs and manufactures satellite ground segment and networking communications equipment, which it sells to its customers either as network components (modems, Block Up converters (BUCs), antennas) or as complete network solutions (which include hubs and related terminals and services) or turnkey projects.

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