Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Up 80.9% in January

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 248,400 shares, an increase of 80.9% from the January 15th total of 137,300 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 389,600 shares, the days-to-cover ratio is currently 0.6 days.

Gilat Satellite Networks Trading Down 0.9 %

GILT stock traded down $0.06 during trading on Friday, hitting $6.78. 552,955 shares of the company traded hands, compared to its average volume of 400,362. The company has a 50-day moving average of $6.54 and a 200-day moving average of $5.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $7.76. The firm has a market capitalization of $386.60 million, a PE ratio of 23.38 and a beta of 0.60.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 5.46% and a return on equity of 9.30%. Analysts predict that Gilat Satellite Networks will post 0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on GILT shares. StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a report on Thursday.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors and hedge funds have recently bought and sold shares of GILT. LBP AM SA raised its stake in Gilat Satellite Networks by 83.9% during the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock valued at $2,136,000 after buying an additional 158,468 shares during the last quarter. Inspire Investing LLC bought a new stake in Gilat Satellite Networks during the 4th quarter valued at about $864,000. Van ECK Associates Corp raised its holdings in Gilat Satellite Networks by 279.0% in the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after buying an additional 100,396 shares during the last quarter. Clearline Capital LP increased its position in shares of Gilat Satellite Networks by 510.5% during the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after acquiring an additional 83,127 shares in the last quarter. Finally, Foundry Partners LLC raised its holdings in Gilat Satellite Networks by 9.0% in the 4th quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock worth $5,593,000 after acquiring an additional 75,260 shares during the last quarter. Hedge funds and other 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.