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

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the recipient of a large increase in short interest in 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. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 134,100 shares, the days-to-cover ratio is presently 0.5 days.

Gilat Satellite Networks Trading Up 3.2 %

GILT traded up $0.16 during trading on Friday, reaching $5.03. The company had a trading volume of 182,862 shares, compared to its average volume of 190,736. The firm’s 50-day simple moving average is $5.01 and its 200 day simple moving average is $4.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14. The company has a market cap of $286.80 million, a price-to-earnings ratio of 17.34 and a beta of 0.59. Gilat Satellite Networks has a 12-month low of $4.04 and a 12-month high of $6.80.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday. William Blair assumed coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They set an “outperform” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a report on Friday.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of large investors have recently made changes to their positions in the company. Foundry Partners LLC raised its stake in Gilat Satellite Networks by 27.4% during the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock valued at $3,693,000 after purchasing an additional 177,675 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Gilat Satellite Networks by 19.6% in the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 5,559 shares during the period. Marshall Wace LLP boosted its holdings in shares of Gilat Satellite Networks by 410.2% during the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock worth $578,000 after purchasing an additional 103,924 shares during the period. Wedbush Securities Inc. purchased a new position in Gilat Satellite Networks during the second quarter valued at approximately $46,000. Finally, Clearline Capital LP acquired a new position in Gilat Satellite Networks in the 2nd quarter valued at approximately $73,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

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.