Gilat Satellite Networks (NASDAQ:GILT) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a sell rating to a hold rating in a research report released on Tuesday morning, BidAskClub reports.

Separately, ValuEngine raised Zillow Group from a hold rating to a buy rating in a research report on Thursday, July 11th.

GILT stock opened at $8.38 on Tuesday. The stock has a 50-day simple moving average of $8.43. Gilat Satellite Networks has a 1-year low of $7.94 and a 1-year high of $10.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.51. The company has a market cap of $464.60 million, a price-to-earnings ratio of 28.90 and a beta of 0.64.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported $0.06 earnings per share for the quarter. Gilat Satellite Networks had a return on equity of 7.37% and a net margin of 7.25%. The firm had revenue of $62.11 million during the quarter.

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Gilat Satellite Networks in the 1st quarter worth about $33,000. Jane Street Group LLC raised its position in shares of Gilat Satellite Networks by 18.5% in the 4th quarter. Jane Street Group LLC now owns 17,829 shares of the communications equipment provider’s stock worth $163,000 after acquiring an additional 2,788 shares in the last quarter. Sphera Funds Management LTD. raised its position in shares of Gilat Satellite Networks by 5.8% in the 1st quarter. Sphera Funds Management LTD. now owns 176,406 shares of the communications equipment provider’s stock worth $1,482,000 after acquiring an additional 9,743 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its position in shares of Gilat Satellite Networks by 0.9% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 214,974 shares of the communications equipment provider’s stock worth $1,806,000 after acquiring an additional 1,892 shares in the last quarter. Finally, Norges Bank bought a new stake in Gilat Satellite Networks in the 4th quarter valued at about $2,107,000. 16.18% of the stock is owned by hedge funds and other institutional investors.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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