Short Interest in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Grows By 89.5%

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 556,600 shares, an increase of 89.5% from the February 13th total of 293,700 shares. Based on an average trading volume of 493,600 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.0% of the company’s stock are sold short.

Institutional Trading of Gilat Satellite Networks

A number of large investors have recently bought and sold shares of the business. PharVision Advisers LLC purchased a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at about $257,000. Tidal Investments LLC increased its position in Gilat Satellite Networks by 3.4% in the 4th quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider’s stock valued at $405,000 after acquiring an additional 2,158 shares during the period. Lazard Asset Management LLC raised its stake in Gilat Satellite Networks by 62.9% during the 4th quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider’s stock valued at $1,028,000 after acquiring an additional 64,610 shares during the last quarter. Bank of America Corp DE lifted its position in Gilat Satellite Networks by 83.4% during the 4th quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider’s stock worth $305,000 after acquiring an additional 22,515 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Gilat Satellite Networks in the 4th quarter valued at approximately $421,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Performance

Shares of GILT stock opened at $7.04 on Friday. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $8.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. The firm has a market cap of $401.40 million, a price-to-earnings ratio of 16.00 and a beta of 0.62. The stock’s 50-day moving average is $7.02 and its two-hundred day moving average is $5.89.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. Analysts predict that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GILT shares. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

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.