Gilat Satellite Networks (NASDAQ:GILT) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.94 and traded as high as $6.14. Gilat Satellite Networks shares last traded at $6.02, with a volume of 178,701 shares traded.

Wall Street Analyst Weigh In

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

Gilat Satellite Networks Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. The stock has a market capitalization of $339.27 million, a PE ratio of 20.52 and a beta of 0.59. The business’s 50-day moving average price is $5.35 and its 200 day moving average price is $4.94.

Institutional Trading of Gilat Satellite Networks

Several institutional investors and hedge funds have recently modified their holdings of GILT. Renaissance Technologies LLC grew its holdings in shares of Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after purchasing an additional 24,204 shares in the last quarter. Foundry Partners LLC increased its holdings 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 last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Gilat Satellite Networks during the 2nd quarter valued at $3,000,000. ARK Investment Management LLC lifted its holdings in shares of Gilat Satellite Networks by 7.9% during the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after acquiring an additional 31,714 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Gilat Satellite Networks by 410.2% in the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock worth $578,000 after acquiring an additional 103,924 shares in the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.