Gilat Satellite Networks (GILT) Upgraded to “Hold” by BidaskClub

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BidaskClub upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Separately, TheStreet raised Gilat Satellite Networks from a c+ rating to a b- rating in a research report on Thursday, August 30th.

Shares of NASDAQ GILT traded down $0.03 during midday trading on Friday, reaching $8.62. 4,285 shares of the company’s stock were exchanged, compared to its average volume of 12,062. Gilat Satellite Networks has a 52-week low of $6.59 and a 52-week high of $9.34. The firm has a market cap of $474.02 million, a price-to-earnings ratio of 32.04 and a beta of 0.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.56 and a current ratio of 1.77.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, August 7th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Gilat Satellite Networks had a return on equity of 6.80% and a net margin of 3.46%. The business had revenue of $66.51 million for the quarter.

A hedge fund recently raised its stake in Gilat Satellite Networks stock. Ramsey Quantitative Systems increased its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 17.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,189 shares of the communications equipment provider’s stock after purchasing an additional 6,420 shares during the period. Gilat Satellite Networks accounts for about 0.4% of Ramsey Quantitative Systems’ investment portfolio, making the stock its 25th biggest holding. Ramsey Quantitative Systems owned about 0.08% of Gilat Satellite Networks worth $388,000 at the end of the most recent reporting period. 15.28% of the stock is owned by hedge funds and other institutional investors.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides broadband satellite communication (Satcom) network solutions and services worldwide. The company operates through Commercial, Mobility, and Services divisions. The company designs, manufactures, and provides network management and equipment for Satcom, as well as professional services to satellite operators and service providers.

See Also: Risk Tolerance

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