Gilat Satellite Networks (NASDAQ:GILT) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.06 and traded as high as $6.51. Gilat Satellite Networks shares last traded at $6.32, with a volume of 311,605 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GILT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Friday, November 15th. William Blair started coverage on shares of Gilat Satellite Networks in a report on Thursday, September 26th. They set an “outperform” rating for the company. Finally, StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

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 firm has a fifty day simple moving average of $5.79 and a two-hundred day simple moving average of $5.08. The firm has a market cap of $358.07 million, a PE ratio of 21.66 and a beta of 0.57.

Hedge Funds Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in Gilat Satellite Networks by 2.3% in the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after acquiring an additional 24,204 shares in the last quarter. Foundry Partners LLC boosted 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 purchasing an additional 8,045 shares during the period. ARK Investment Management LLC raised its holdings in 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 valued at $2,292,000 after buying an additional 31,714 shares during the period. Marshall Wace LLP raised its holdings in Gilat Satellite Networks by 410.2% during the 2nd 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. Finally, Clearline Capital LP lifted its position in Gilat Satellite Networks by 510.5% in the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock worth $524,000 after buying an additional 83,127 shares during the last quarter. 35.72% of the stock is owned by hedge funds and other institutional investors.

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.