Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Down 23.2% in January

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 190,000 shares, a decrease of 23.2% from the December 31st total of 247,500 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 286,700 shares, the days-to-cover ratio is currently 0.7 days.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock opened at $7.15 on Friday. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $7.51. The stock has a market cap of $407.69 million, a price-to-earnings ratio of 24.66 and a beta of 0.57. The stock’s 50 day simple moving average is $6.25 and its two-hundred day simple moving average is $5.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17.

Analyst Ratings Changes

Several equities analysts recently commented on GILT shares. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Thursday, January 16th.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of institutional investors have recently added to or reduced their stakes in the company. Foundry Partners LLC grew its position in shares of Gilat Satellite Networks by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after buying an additional 8,045 shares during the period. ARK Investment Management LLC grew its holdings in Gilat Satellite Networks by 7.9% in the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after purchasing an additional 31,714 shares during the period. Inspire Investing LLC bought a new position in shares of Gilat Satellite Networks during the fourth quarter valued at approximately $864,000. Van ECK Associates Corp increased its stake in shares of Gilat Satellite Networks by 279.0% during the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock valued at $839,000 after purchasing an additional 100,396 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of 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 purchasing an additional 103,924 shares during the last quarter. Institutional investors 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.