Gilat Satellite Networks (GILT) Rating Lowered to Hold at BidaskClub

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, ValuEngine raised Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th.

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Shares of Gilat Satellite Networks stock traded down $0.08 during midday trading on Wednesday, hitting $8.31. The company’s stock had a trading volume of 300 shares, compared to its average volume of 22,289. The stock has a market cap of $454.87, a PE ratio of 31.96 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. Gilat Satellite Networks has a 1-year low of $4.12 and a 1-year high of $9.22.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Tuesday, February 13th. The communications equipment provider reported $0.09 EPS for the quarter. The business had revenue of $82.65 million during the quarter. Gilat Satellite Networks had a return on equity of 6.47% and a net margin of 2.41%.

Large investors have recently made changes to their positions in the stock. ARK Investment Management LLC purchased a new stake in shares of Gilat Satellite Networks during the fourth quarter worth $290,000. Renaissance Technologies LLC raised its holdings in shares of Gilat Satellite Networks by 2.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,814,930 shares of the communications equipment provider’s stock worth $21,773,000 after acquiring an additional 54,176 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Gilat Satellite Networks by 8,747,337.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 699,795 shares of the communications equipment provider’s stock worth $5,413,000 after acquiring an additional 699,787 shares in the last quarter. Meitav Dash Investments Ltd. purchased a new stake in shares of Gilat Satellite Networks during the fourth quarter worth $874,000. Finally, Delek Group Ltd. purchased a new stake in shares of Gilat Satellite Networks during the fourth quarter worth $15,100,000. Institutional investors and hedge funds own 13.80% of the company’s stock.

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Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides broadband satellite communication (Satcom) network solutions and services worldwide. The company designs, manufactures, and provides network management and equipment for Satcom, as well as professional services to satellite and telecommunication companies.

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