Gilat Satellite Networks (NASDAQ:GILT) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $8.50 price target on the communications equipment provider’s stock.

Separately, StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

Gilat Satellite Networks Price Performance

Shares of Gilat Satellite Networks stock opened at $6.13 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14. The business’s 50 day simple moving average is $6.35 and its two-hundred day simple moving average is $6.38. The stock has a market capitalization of $349.51 million, a P/E ratio of 13.93 and a beta of 0.37. Gilat Satellite Networks has a one year low of $4.04 and a one year high of $8.05.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Monday, May 19th. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. The firm had revenue of $92.04 million during the quarter, compared to analysts’ expectations of $100.67 million. Analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Gilat Satellite Networks

Large investors have recently made changes to their positions in the business. Covestor Ltd bought a new position in shares of Gilat Satellite Networks during the fourth quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Gilat Satellite Networks in the 1st quarter worth about $67,000. Quarry LP bought a new stake in shares of Gilat Satellite Networks during the 4th quarter valued at about $68,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Gilat Satellite Networks during the fourth quarter valued at about $85,000. Finally, Boothbay Fund Management LLC bought a new position in Gilat Satellite Networks in the fourth quarter worth about $86,000. 35.72% of the stock is currently owned by 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.