Gilat Satellite Networks (NASDAQ:GILT) Shares Gap Up – What’s Next?

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) gapped up before the market opened on Monday . The stock had previously closed at $16.34, but opened at $17.02. Gilat Satellite Networks shares last traded at $17.24, with a volume of 157,227 shares changing hands.

Wall Street Analysts Forecast Growth

GILT has been the topic of several analyst reports. Freedom Capital raised shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Wall Street Zen cut shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Gilat Satellite Networks Stock Up 5.2%

The firm has a market capitalization of $1.27 billion, a PE ratio of 51.80 and a beta of 0.92. The business’s 50-day moving average price is $16.62 and its 200-day moving average price is $14.51.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. The firm had revenue of $136.96 million for the quarter, compared to the consensus estimate of $133.56 million. On average, analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gilat Satellite Networks news, insider Doron Kerbel sold 7,500 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $18.03, for a total value of $135,225.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adi Sfadia sold 48,978 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total value of $825,279.30. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.13% of the company’s stock.

Institutional Investors Weigh In On Gilat Satellite Networks

Large investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in Gilat Satellite Networks during the third quarter valued at approximately $26,000. Huntington National Bank raised its holdings in shares of Gilat Satellite Networks by 200,000.0% during the 4th quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Gilat Satellite Networks by 82.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 960 shares during the last quarter. USA Financial Formulas bought a new stake in Gilat Satellite Networks in the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC bought a new stake in Gilat Satellite Networks in the fourth quarter worth $39,000. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.