Gilat Satellite Networks Ltd. (NASDAQ:GILT) Short Interest Up 41.2% in October

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 72,000 shares, an increase of 41.2% from the October 15th total of 51,000 shares. Based on an average trading volume of 134,100 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the company’s shares are sold short.

Analyst Ratings Changes

GILT has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Friday. StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, William Blair started coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating on the stock.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors have recently modified their holdings of GILT. Renaissance Technologies LLC boosted its holdings in shares of Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock valued at $4,817,000 after acquiring an additional 24,204 shares during the period. Foundry Partners LLC raised its stake in shares of Gilat Satellite Networks by 1.0% during the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after purchasing an additional 8,045 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in Gilat Satellite Networks in the first quarter worth about $4,201,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Gilat Satellite Networks in the second quarter worth about $3,000,000. Finally, ARK Investment Management LLC grew its position in Gilat Satellite Networks by 7.9% in the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock valued at $2,292,000 after buying an additional 31,714 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Up 3.2 %

Shares of NASDAQ GILT traded up $0.16 during trading on Friday, reaching $5.03. 182,862 shares of the stock were exchanged, compared to its average volume of 190,736. The business’s 50-day moving average price is $5.01 and its 200 day moving average price is $4.90. The company has a market capitalization of $286.80 million, a price-to-earnings ratio of 17.34 and a beta of 0.59. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $6.80. The company has a quick ratio of 1.81, a current ratio of 2.14 and a debt-to-equity ratio of 0.01.

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.