Stock Traders Buy High Volume of Gilat Satellite Networks Call Options (NASDAQ:GILT)

Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw some unusual options trading activity on Friday. Investors purchased 4,005 call options on the stock. This is an increase of approximately 435% compared to the average volume of 749 call options.

Insider Buying and Selling

In other Gilat Satellite Networks news, Director Amir Ofek sold 3,923 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $11.41, for a total transaction of $44,761.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.13% of the company’s stock.

Institutional Trading of Gilat Satellite Networks

Large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in shares of Gilat Satellite Networks by 47.3% in the second quarter. Van ECK Associates Corp now owns 1,799,354 shares of the communications equipment provider’s stock worth $23,949,000 after buying an additional 577,479 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in Gilat Satellite Networks by 77.3% during the 1st quarter. Y.D. More Investments Ltd now owns 715,697 shares of the communications equipment provider’s stock worth $10,560,000 after acquiring an additional 311,951 shares in the last quarter. AWM Investment Company Inc. bought a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth about $13,792,000. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Gilat Satellite Networks by 33.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock worth $71,476,000 after purchasing an additional 1,402,035 shares during the last quarter. Finally, Potomac Capital Management Inc. bought a new position in shares of Gilat Satellite Networks during the fourth quarter worth about $1,180,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on GILT. Zacks Research cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a research note on Tuesday, June 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Gilat Satellite Networks has an average rating of “Moderate Buy” and an average price target of $20.00.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock traded down $0.25 during trading on Friday, reaching $9.70. 121,945 shares of the company’s stock were exchanged, compared to its average volume of 805,991. The company’s 50-day moving average is $10.76 and its two-hundred day moving average is $14.20. The firm has a market cap of $716.16 million, a price-to-earnings ratio of 22.14 and a beta of 1.05. Gilat Satellite Networks has a 52-week low of $9.37 and a 52-week high of $20.93.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, June 30th. The communications equipment provider reported $0.20 EPS for the quarter. The business had revenue of $122.66 million for the quarter. Gilat Satellite Networks had a return on equity of 10.12% and a net margin of 6.21%. Analysts anticipate that Gilat Satellite Networks will post 0.53 EPS for the current year.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd. is an Israel-based provider of satellite networking technology and services. The company develops and supplies satellite-based communications solutions that support broadband connectivity, cellular backhaul, enterprise networking, government communications, and mobility applications.

Its portfolio includes satellite network platforms, very small aperture terminal (VSAT) equipment, satellite modems, antennas, cloud-based network management tools, and managed connectivity services.