Gilat Satellite Networks (NASDAQ:GILT) Sees Large Volume Increase – Here’s Why

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw strong trading volume on Monday . 941,646 shares traded hands during mid-day trading, an increase of 43% from the previous session’s volume of 657,023 shares.The stock last traded at $16.4520 and had previously closed at $15.06.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GILT. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. Finally, Zacks Research lowered Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Gilat Satellite Networks has a consensus rating of “Hold” and a consensus target price of $16.00.

Gilat Satellite Networks Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.45 and a current ratio of 1.72. The firm has a market capitalization of $976.57 million, a P/E ratio of 41.64 and a beta of 0.64. The business has a fifty day moving average of $12.46 and a 200-day moving average of $11.06.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. Gilat Satellite Networks had a return on equity of 10.40% and a net margin of 6.03%.The firm had revenue of $117.69 million for the quarter, compared to the consensus estimate of $112.19 million. On average, sell-side analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

Several large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position in shares of Gilat Satellite Networks by 24.3% during the 1st quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider’s stock worth $4,044,000 after buying an additional 124,794 shares in the last quarter. LBP AM SA increased its stake in shares of Gilat Satellite Networks by 33.3% during the second quarter. LBP AM SA now owns 566,075 shares of the communications equipment provider’s stock valued at $4,013,000 after acquiring an additional 141,378 shares during the period. Penserra Capital Management LLC bought a new stake in Gilat Satellite Networks during the second quarter worth approximately $908,000. CSM Advisors LLC bought a new stake in Gilat Satellite Networks during the second quarter worth approximately $6,214,000. Finally, Cetera Investment Advisers acquired a new stake in Gilat Satellite Networks in the second quarter worth approximately $191,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.