Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Up 42.2% in October

Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 2,360,000 shares, an increase of 42.2% from the September 30th total of 1,660,000 shares. Currently, 4.2% of the shares of the company are short sold. Based on an average daily volume of 897,900 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 897,900 shares, the short-interest ratio is presently 2.6 days. Currently, 4.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Gilat Satellite Networks

Several hedge funds have recently modified their holdings of GILT. Inspire Advisors LLC bought a new position in Gilat Satellite Networks during the 1st quarter worth $308,000. Royce & Associates LP bought a new position in Gilat Satellite Networks during the 1st quarter worth $4,434,000. Acadian Asset Management LLC raised its position in Gilat Satellite Networks by 24.3% during the 1st quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider’s stock worth $4,044,000 after purchasing an additional 124,794 shares during the last quarter. LBP AM SA raised its position in Gilat Satellite Networks by 33.3% during the 2nd quarter. LBP AM SA now owns 566,075 shares of the communications equipment provider’s stock worth $4,013,000 after purchasing an additional 141,378 shares during the last quarter. Finally, Apis Capital Advisors LLC bought a new position in Gilat Satellite Networks during the 1st quarter worth $444,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT traded down $0.81 during mid-day trading on Tuesday, hitting $13.49. 504,664 shares of the stock traded hands, compared to its average volume of 571,549. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.17. Gilat Satellite Networks has a twelve month low of $4.86 and a twelve month high of $15.24. The company has a market cap of $771.50 million, a PE ratio of 34.56 and a beta of 0.58. The firm has a 50 day simple moving average of $12.39 and a two-hundred day simple moving average of $8.93.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.17. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The company had revenue of $105.00 million for the quarter, compared to the consensus estimate of $100.99 million. As a group, equities research analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on GILT shares. Wall Street Zen lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Zacks Research lowered Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Needham & Company LLC raised their price objective on Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gilat Satellite Networks in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.00.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.