Gilat Satellite Networks (NASDAQ:GILT) Shares Pass Above 200 Day Moving Average – Time to Sell?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.78 and traded as high as $7.45. Gilat Satellite Networks shares last traded at $7.12, with a volume of 485,857 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GILT shares. StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th.

Gilat Satellite Networks Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. The stock’s 50 day simple moving average is $6.93 and its 200 day simple moving average is $5.79. The firm has a market cap of $401.40 million, a P/E ratio of 16.00 and a beta of 0.62.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. Research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Foundry Partners LLC grew its holdings in Gilat Satellite Networks by 9.0% during the fourth quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock worth $5,593,000 after buying an additional 75,260 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Gilat Satellite Networks by 7.9% during the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after acquiring an additional 31,714 shares during the last quarter. LBP AM SA grew its stake in shares of Gilat Satellite Networks by 83.9% in the 4th quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock worth $2,136,000 after acquiring an additional 158,468 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Gilat Satellite Networks by 43.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,597 shares of the communications equipment provider’s stock valued at $1,329,000 after purchasing an additional 65,374 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Gilat Satellite Networks by 62.9% during the fourth quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider’s stock valued at $1,028,000 after purchasing an additional 64,610 shares in the last quarter. 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.