Gilat Satellite Networks (NASDAQ:GILT) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILTFree Report) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $8.50 price objective on the communications equipment provider’s stock.

Separately, William Blair started coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating for the company.

Read Our Latest Stock Analysis on GILT

Gilat Satellite Networks Stock Performance

GILT stock traded up $0.16 during trading on Friday, hitting $5.03. 182,862 shares of the company’s stock traded hands, compared to its average volume of 190,736. The stock has a market capitalization of $286.81 million, a price-to-earnings ratio of 17.35 and a beta of 0.59. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $6.80. The stock has a fifty day moving average price of $5.01 and a two-hundred day moving average price of $4.90. The company has a quick ratio of 1.81, a current ratio of 2.14 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in shares of Gilat Satellite Networks during the third quarter worth about $27,000. Wedbush Securities Inc. acquired a new position in shares of Gilat Satellite Networks during the second quarter worth approximately $46,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Gilat Satellite Networks in the 2nd quarter worth approximately $69,000. Clearline Capital LP acquired a new stake in Gilat Satellite Networks in the 2nd quarter valued at approximately $73,000. Finally, GSA Capital Partners LLP bought a new stake in Gilat Satellite Networks during the 3rd quarter valued at $140,000. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Company Profile

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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.

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