Gilat Satellite Networks Ltd. (NASDAQ:GILT) Sees Significant Increase in Short Interest

Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 147,800 shares, an increase of 9.6% from the November 15th total of 134,900 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 239,200 shares, the days-to-cover ratio is currently 0.6 days.

Gilat Satellite Networks Stock Down 1.2 %

GILT stock traded down $0.07 during midday trading on Friday, reaching $5.95. The company had a trading volume of 356,331 shares, compared to its average volume of 209,662. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.66. The company has a 50 day moving average of $5.37 and a two-hundred day moving average of $4.94. The company has a market capitalization of $339.25 million, a P/E ratio of 20.52 and a beta of 0.59.

Institutional Trading of Gilat Satellite Networks

Several large investors have recently added to or reduced their stakes in GILT. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Gilat Satellite Networks during the 2nd quarter worth about $69,000. ARK Investment Management LLC increased its holdings in Gilat Satellite Networks by 12.4% in the 2nd quarter. ARK Investment Management LLC now owns 403,249 shares of the communications equipment provider’s stock valued at $1,803,000 after buying an additional 44,499 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Gilat Satellite Networks during the 2nd quarter worth about $3,000,000. Foundry Partners LLC boosted its position in shares of 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 acquiring an additional 177,675 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new stake in Gilat Satellite Networks in the second quarter valued at about $46,000. 35.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. William Blair initiated coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research report on Friday, November 15th. Finally, StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

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.