Gilat Satellite Networks (NASDAQ:GILT) Receives “Buy” Rating from Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $8.50 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 74.36% from the stock’s previous close.

Separately, William Blair initiated coverage on shares of Gilat Satellite Networks in a report on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Stock Down 2.1 %

Shares of Gilat Satellite Networks stock opened at $4.88 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 12-month low of $4.04 and a 12-month high of $6.80. The company has a market cap of $277.97 million, a P/E ratio of 16.81 and a beta of 0.59. The company’s fifty day simple moving average is $4.99 and its two-hundred day simple moving average is $4.90.

Institutional Trading of Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd increased its stake in shares of Gilat Satellite Networks by 19.6% during the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 5,559 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Gilat Satellite Networks in the first quarter worth $4,201,000. Tidal Investments LLC purchased a new stake in shares of Gilat Satellite Networks in the first quarter worth $316,000. LA Financiere DE L Echiquier increased its holdings in shares of Gilat Satellite Networks by 20.4% during the second quarter. LA Financiere DE L Echiquier now owns 188,800 shares of the communications equipment provider’s stock valued at $844,000 after acquiring an additional 32,000 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Gilat Satellite Networks in the 2nd quarter worth about $69,000. 35.72% of the stock is owned by hedge funds and other institutional investors.

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.