Short Interest in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Declines By 23.2%

Gilat Satellite Networks Ltd. (NASDAQ:GILT) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 190,000 shares, a drop of 23.2% from the December 31st total of 247,500 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 286,700 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. 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 Thursday, January 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter worth $27,000. Virtu Financial LLC purchased a new stake in Gilat Satellite Networks during the third quarter valued at approximately $61,000. GSA Capital Partners LLP purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter worth approximately $140,000. PDT Partners LLC boosted its stake in Gilat Satellite Networks by 51.1% during the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 9,287 shares during the period. Finally, Van ECK Associates Corp increased its position in Gilat Satellite Networks by 60.9% during the third quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider’s stock valued at $175,000 after acquiring an additional 13,625 shares during the last quarter. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Trading Up 1.4 %

Shares of Gilat Satellite Networks stock opened at $7.15 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The firm has a market cap of $407.69 million, a price-to-earnings ratio of 24.66 and a beta of 0.57. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $7.51. The business has a 50-day moving average price of $6.25 and a 200-day moving average price of $5.33.

Gilat Satellite Networks Company Profile

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.