Gilat Satellite Networks (NASDAQ:GILT) Upgraded by StockNews.com to Strong-Buy Rating

Gilat Satellite Networks (NASDAQ:GILT) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

GILT has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research note on Friday. William Blair started coverage on Gilat Satellite Networks in a report on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Trading Up 3.2 %

NASDAQ:GILT traded up $0.16 during trading hours on Friday, hitting $5.03. 182,351 shares of the stock were exchanged, compared to its average volume of 190,736. The company has a market capitalization of $286.81 million, a P/E ratio of 17.35 and a beta of 0.59. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $6.80. The company has a quick ratio of 1.81, a current ratio of 2.14 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $5.00 and its two-hundred day moving average is $4.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Foundry Partners LLC increased its stake in Gilat Satellite Networks by 27.4% during the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock valued at $3,693,000 after purchasing an additional 177,675 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Gilat Satellite Networks by 19.6% during the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 5,559 shares during the period. Marshall Wace LLP boosted its stake in Gilat Satellite Networks by 410.2% during the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock valued at $578,000 after buying an additional 103,924 shares during the period. Wedbush Securities Inc. bought a new stake in Gilat Satellite Networks during the second quarter valued at approximately $46,000. Finally, Clearline Capital LP purchased a new stake in Gilat Satellite Networks during the second quarter valued at about $73,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.