Gilat Satellite Networks (NASDAQ:GILT) Upgraded to “Buy” by StockNews.com

Gilat Satellite Networks (NASDAQ:GILTGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Gilat Satellite Networks Trading Up 1.5 %

Shares of NASDAQ:GILT traded up $0.09 during midday trading on Thursday, reaching $6.00. The company had a trading volume of 91,403 shares, compared to its average volume of 153,258. The company’s 50 day moving average price is $5.61 and its 200 day moving average price is $6.19. The stock has a market cap of $339.66 million, a P/E ratio of 120.02 and a beta of 0.54. Gilat Satellite Networks has a 52-week low of $4.97 and a 52-week high of $9.11.

Hedge Funds Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in Gilat Satellite Networks by 74.8% during the first quarter. Royal Bank of Canada now owns 3,501 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 1,498 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Gilat Satellite Networks during the third quarter valued at about $60,000. Jane Street Group LLC lifted its holdings in Gilat Satellite Networks by 2,001.9% during the second quarter. Jane Street Group LLC now owns 12,153 shares of the communications equipment provider’s stock valued at $73,000 after purchasing an additional 12,792 shares during the last quarter. Virtu Financial LLC purchased a new stake in Gilat Satellite Networks during the third quarter valued at about $66,000. Finally, Cobblestone Capital Advisors LLC NY purchased a new stake in Gilat Satellite Networks during the third quarter valued at about $70,000. 29.61% of the stock is owned by hedge funds and other institutional investors.

About Gilat Satellite Networks

(Get Rating)

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel and internationally. It operates through Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects segments. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.

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