Gilat Satellite Networks (NASDAQ:GILT) Trading Up 10.4% – Time to Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price traded up 10.4% on Tuesday . The company traded as high as $17.54 and last traded at $17.37. 420,476 shares were traded during mid-day trading, a decline of 53% from the average session volume of 902,470 shares. The stock had previously closed at $15.73.

Wall Street Analyst Weigh In

Several research firms have recently commented on GILT. 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 lowered Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research raised Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $20.00.

Gilat Satellite Networks Trading Up 13.8%

The firm has a market capitalization of $1.32 billion, a P/E ratio of 35.10 and a beta of 1.05. The stock’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $15.52.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Tuesday, March 31st. The communications equipment provider reported $0.18 EPS for the quarter. The firm had revenue of $110.47 million for the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 11.65%. On average, equities research analysts expect that Gilat Satellite Networks Ltd. will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other news, insider Doron Kerbel sold 7,500 shares of Gilat Satellite Networks stock in a transaction on Friday, March 20th. The stock was sold at an average price of $18.03, for a total transaction of $135,225.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adi Sfadia sold 48,978 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $16.85, for a total transaction of $825,279.30. The SEC filing for this sale provides additional information. Insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On Gilat Satellite Networks

Several institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its position in shares of Gilat Satellite Networks by 82.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 960 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Gilat Satellite Networks in the 3rd quarter valued at about $26,000. Huntington National Bank lifted its holdings in Gilat Satellite Networks by 200,000.0% during the fourth 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 during the last quarter. Signaturefd LLC boosted its position in Gilat Satellite Networks by 104.5% during the fourth quarter. Signaturefd LLC now owns 4,120 shares of the communications equipment provider’s stock worth $53,000 after purchasing an additional 2,105 shares during the period. Finally, Raymond James Financial Inc. increased its stake in shares of Gilat Satellite Networks by 9.8% in the third quarter. Raymond James Financial Inc. now owns 24,412 shares of the communications equipment provider’s stock worth $318,000 after purchasing an additional 2,173 shares in the last quarter. 35.72% of the stock is owned by institutional investors.

About Gilat Satellite Networks

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.