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

Gilat Satellite Networks Ltd. (NASDAQ:GILT) was the recipient of a large increase in short interest in 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 daily volume of 134,100 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in shares of Gilat Satellite Networks during the 3rd quarter worth approximately $27,000. Quadrature Capital Ltd boosted its holdings in shares of Gilat Satellite Networks by 19.6% during the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 5,559 shares during the period. Foundry Partners LLC grew its position 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 worth $4,396,000 after acquiring an additional 8,045 shares during the last quarter. PDT Partners LLC increased its holdings in shares of Gilat Satellite Networks by 51.1% in the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after acquiring an additional 9,287 shares during the period. Finally, Wedbush Securities Inc. bought a new stake in Gilat Satellite Networks in the 2nd quarter valued at about $46,000. Institutional investors own 35.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GILT shares. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday. William Blair started coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a research report on Friday.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock traded up $0.16 during mid-day trading on Friday, reaching $5.03. The company’s stock had a trading volume of 182,862 shares, compared to its average volume of 190,736. The firm 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 twelve month low of $4.04 and a twelve month high of $6.80. The business has a 50 day moving average price of $5.01 and a 200-day moving average price of $4.90. The company has a current ratio of 2.14, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01.

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.