Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Down 23.2% in January

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 190,000 shares, a decline of 23.2% from the December 31st total of 247,500 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 286,700 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at $27,000. Virtu Financial LLC purchased a new position in shares of Gilat Satellite Networks in the third quarter worth about $61,000. GSA Capital Partners LLP acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth about $140,000. PDT Partners LLC boosted its position in Gilat Satellite Networks by 51.1% in the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 9,287 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Gilat Satellite Networks by 60.9% during the 3rd quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider’s stock worth $175,000 after buying an additional 13,625 shares during the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Up 1.4 %

NASDAQ:GILT opened at $7.15 on Friday. 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 $407.69 million, a P/E ratio of 24.66 and a beta of 0.57. The company’s 50-day simple moving average is $6.25 and its 200-day simple moving average is $5.33. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $7.51.

Analysts Set New Price Targets

Several analysts recently weighed in on GILT shares. StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Needham & Company LLC reissued a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a report on Thursday, January 16th.

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.