Gilat Satellite Networks (NASDAQ:GILT) Lifted to “Hold” at 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 report released on Saturday morning, BidAskClub reports.

Separately, ValuEngine raised Gilat Satellite Networks from a hold rating to a buy rating in a research report on Thursday, July 11th.

Gilat Satellite Networks stock opened at $8.85 on Friday. The stock has a fifty day simple moving average of $8.44. Gilat Satellite Networks has a 1-year low of $7.94 and a 1-year high of $10.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.51 and a quick ratio of 1.36. The firm has a market cap of $470.70 million, a PE ratio of 28.30 and a beta of 0.64.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported $0.06 EPS for the quarter. Gilat Satellite Networks had a return on equity of 7.37% and a net margin of 7.25%. The company had revenue of $62.11 million during the quarter.

Institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank boosted its position in shares of Gilat Satellite Networks by 26.8% during the second quarter. Swiss National Bank now owns 56,466 shares of the communications equipment provider’s stock valued at $483,000 after purchasing an additional 11,917 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Gilat Satellite Networks by 7.3% in the second quarter. ARK Investment Management LLC now owns 54,388 shares of the communications equipment provider’s stock worth $460,000 after acquiring an additional 3,683 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Gilat Satellite Networks by 21.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 859,623 shares of the communications equipment provider’s stock worth $7,272,000 after acquiring an additional 152,153 shares in the last quarter. Sphera Funds Management LTD. boosted its holdings in Gilat Satellite Networks by 5.8% in the first quarter. Sphera Funds Management LTD. now owns 176,406 shares of the communications equipment provider’s stock worth $1,482,000 after acquiring an additional 9,743 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in Gilat Satellite Networks by 67.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 921,528 shares of the communications equipment provider’s stock worth $7,747,000 after acquiring an additional 370,507 shares in the last quarter. 16.40% of the stock is owned by institutional investors.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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