Gilat Satellite Networks Ltd. (NASDAQ:GILT) Sees Large Growth in Short Interest

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 134,900 shares, a growth of 87.4% from the October 31st total of 72,000 shares. Based on an average trading volume of 162,400 shares, the short-interest ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are short sold.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT traded up $0.07 during mid-day trading on Friday, reaching $5.48. The stock had a trading volume of 71,316 shares, compared to its average volume of 190,699. The business’s 50 day moving average price is $5.17 and its 200 day moving average price is $4.90. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.80. The company has a market cap of $312.45 million, a P/E ratio of 18.90 and a beta of 0.59. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

GILT has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Friday, November 15th. William Blair initiated coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating on the stock. Finally, StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

Institutional Trading of Gilat Satellite Networks

A number of large investors have recently added to or reduced their stakes in GILT. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks in the third quarter valued at $27,000. Wedbush Securities Inc. purchased a new position in shares of Gilat Satellite Networks in the 2nd quarter worth $46,000. Virtu Financial LLC purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter worth $61,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Gilat Satellite Networks in the 2nd quarter worth about $69,000. Finally, Clearline Capital LP purchased a new stake in shares of Gilat Satellite Networks during the 2nd quarter valued at about $73,000. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.