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

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 5,300 shares, a decline of 7.0% from the June 30th total of 5,700 shares. Based on an average trading volume of 14,400 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are short sold.

Several research firms have commented on GILT. ValuEngine upgraded shares of Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. BidaskClub downgraded shares of Gilat Satellite Networks from a “hold” rating to a “sell” rating in a research note on Thursday.

Shares of GILT stock traded down $0.33 on Thursday, reaching $7.67. 18,800 shares of the stock were exchanged, compared to its average volume of 16,127. The company has a current ratio of 1.68, a quick ratio of 1.47 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $8.46 and its 200 day moving average price is $8.69. The company has a market capitalization of $423.01 million, a price-to-earnings ratio of 26.56 and a beta of 0.64. Gilat Satellite Networks has a twelve month low of $7.60 and a twelve month high of $10.74.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Tuesday, August 6th. The communications equipment provider reported $0.08 EPS for the quarter. The firm had revenue of $59.69 million during the quarter. Gilat Satellite Networks had a net margin of 7.93% and a return on equity of 7.79%.

Several hedge funds have recently modified their holdings of GILT. Jane Street Group LLC raised its stake in Gilat Satellite Networks by 18.5% in the fourth quarter. Jane Street Group LLC now owns 17,829 shares of the communications equipment provider’s stock valued at $163,000 after purchasing an additional 2,788 shares in the last quarter. Norges Bank bought a new position in Gilat Satellite Networks in the fourth quarter valued at about $2,107,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Gilat Satellite Networks by 1.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 707,470 shares of the communications equipment provider’s stock valued at $6,261,000 after acquiring an additional 7,675 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Gilat Satellite Networks in the first quarter valued at about $33,000. Finally, Meitav Dash Investments Ltd. grew its position in Gilat Satellite Networks by 25.8% in the first quarter. Meitav Dash Investments Ltd. now owns 414,972 shares of the communications equipment provider’s stock valued at $3,408,000 after acquiring an additional 84,992 shares during the last quarter. Hedge funds and other institutional investors own 16.39% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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