BidaskClub Lowers Gilat Satellite Networks (NASDAQ:GILT) to Strong Sell

BidaskClub lowered shares of Gilat Satellite Networks (NASDAQ:GILT) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Separately, ValuEngine raised shares of Gilat Satellite Networks from a hold rating to a buy rating in a research note on Saturday, October 19th.

NASDAQ GILT traded down $0.01 on Wednesday, reaching $7.76. The company had a trading volume of 16,617 shares, compared to its average volume of 46,247. The firm has a market capitalization of $433.55 million, a price-to-earnings ratio of 23.00 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.51 and a current ratio of 1.75. Gilat Satellite Networks has a 1-year low of $7.32 and a 1-year high of $9.87. The company’s fifty day moving average is $8.04 and its 200-day moving average is $8.25.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, November 19th. The communications equipment provider reported $0.11 earnings per share for the quarter. The firm had revenue of $63.38 million during the quarter. Gilat Satellite Networks had a net margin of 6.99% and a return on equity of 8.44%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in Gilat Satellite Networks in the 3rd quarter worth $143,000. Jane Street Group LLC bought a new stake in Gilat Satellite Networks during the 2nd quarter worth about $158,000. State Street Corp lifted its position in Gilat Satellite Networks by 17.6% during the 3rd quarter. State Street Corp now owns 41,074 shares of the communications equipment provider’s stock worth $344,000 after buying an additional 6,140 shares in the last quarter. Swiss National Bank lifted its position in Gilat Satellite Networks by 26.8% during the 2nd quarter. Swiss National Bank now owns 56,466 shares of the communications equipment provider’s stock worth $483,000 after buying an additional 11,917 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Gilat Satellite Networks during the 2nd quarter worth about $114,359,000. 18.94% of the stock is owned by hedge funds and other institutional investors.

About Gilat Satellite Networks

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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