Gilat Satellite Networks (NASDAQ:GILT) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.77 and traded as high as $14.54. Gilat Satellite Networks shares last traded at $14.32, with a volume of 383,572 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GILT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gilat Satellite Networks in a research report on Wednesday, October 8th. Wall Street Zen cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Needham & Company LLC upped their price objective on Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Zacks Research cut Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.00.

Gilat Satellite Networks Stock Down 0.9%

The firm has a market cap of $819.25 million, a P/E ratio of 36.72 and a beta of 0.58. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $12.19 and a 200-day moving average of $8.77.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.17. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The business had revenue of $105.00 million for the quarter, compared to analyst estimates of $100.99 million. On average, equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Institutional Trading of Gilat Satellite Networks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. USA Financial Formulas bought a new stake in Gilat Satellite Networks during the third quarter worth about $39,000. Tidal Investments LLC raised its stake in Gilat Satellite Networks by 6.8% in the second quarter. Tidal Investments LLC now owns 66,474 shares of the communications equipment provider’s stock valued at $471,000 after buying an additional 4,250 shares during the period. McIlrath & Eck LLC raised its stake in Gilat Satellite Networks by 383.1% in the third quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 4,586 shares during the period. Global Retirement Partners LLC bought a new stake in Gilat Satellite Networks in the third quarter valued at approximately $99,000. Finally, Marshall Wace LLP raised its stake in Gilat Satellite Networks by 1.6% in the second quarter. Marshall Wace LLP now owns 513,873 shares of the communications equipment provider’s stock valued at $3,643,000 after buying an additional 8,105 shares during the period. Institutional investors own 35.72% of the company’s stock.

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.