Gilat Satellite Networks (NASDAQ:GILT) Lowered to “Hold” at ValuEngine

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Saturday, June 22nd, ValuEngine reports.

Separately, BidaskClub raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd.

GILT stock traded down $0.02 during midday trading on Friday, reaching $8.75. 1,460 shares of the company’s stock traded hands, compared to its average volume of 10,925. The company has a market cap of $483.48 million, a PE ratio of 29.17 and a beta of 0.64. Gilat Satellite Networks has a 52-week low of $7.94 and a 52-week high of $10.74. The stock’s 50-day moving average is $8.41. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Tuesday, May 14th. The communications equipment provider reported $0.06 earnings per share for the quarter. Gilat Satellite Networks had a net margin of 7.25% and a return on equity of 7.37%. The firm had revenue of $62.11 million during the quarter.

Several large investors have recently added to or reduced their stakes in the company. Menora Mivtachim Holdings LTD. boosted its stake in Gilat Satellite Networks by 0.9% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 214,974 shares of the communications equipment provider’s stock worth $1,806,000 after purchasing an additional 1,892 shares in the last quarter. Jane Street Group LLC boosted its stake in Gilat Satellite Networks by 18.5% in the 4th quarter. Jane Street Group LLC now owns 17,829 shares of the communications equipment provider’s stock worth $163,000 after purchasing an additional 2,788 shares in the last quarter. Sphera Funds Management LTD. raised its position in Gilat Satellite Networks by 2.0% during the 4th quarter. Sphera Funds Management LTD. now owns 166,663 shares of the communications equipment provider’s stock worth $5,705,000 after buying an additional 3,296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Gilat Satellite Networks during the 1st quarter worth approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Gilat Satellite Networks by 1.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 707,470 shares of the communications equipment provider’s stock worth $6,261,000 after buying an additional 7,675 shares during the last quarter. Institutional investors and hedge funds own 16.18% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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