Gilat Satellite Networks Ltd. (NASDAQ:GILT – Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 86,400 shares, a growth of 59.1% from the January 15th total of 54,300 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 104,600 shares, the short-interest ratio is presently 0.8 days.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Holdings Inc. lifted its holdings in shares of Gilat Satellite Networks by 31.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 34,965 shares of the communications equipment provider’s stock valued at $308,000 after buying an additional 8,315 shares during the period. Swiss National Bank grew its position in shares of Gilat Satellite Networks by 6.2% during the first quarter. Swiss National Bank now owns 73,949 shares of the communications equipment provider’s stock valued at $657,000 after purchasing an additional 4,332 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Gilat Satellite Networks by 31.1% during the first quarter. Cetera Advisor Networks LLC now owns 38,094 shares of the communications equipment provider’s stock valued at $338,000 after purchasing an additional 9,033 shares in the last quarter. Citigroup Inc. purchased a new position in shares of Gilat Satellite Networks during the first quarter valued at about $204,000. Finally, Vanguard Group Inc. grew its position in shares of Gilat Satellite Networks by 3.9% during the first quarter. Vanguard Group Inc. now owns 798,840 shares of the communications equipment provider’s stock valued at $7,037,000 after purchasing an additional 30,244 shares in the last quarter. Institutional investors own 32.55% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 10th. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a report on Friday, November 17th.
Gilat Satellite Networks Trading Up 0.2 %
NASDAQ GILT opened at $6.51 on Tuesday. The stock has a 50-day moving average of $6.20 and a 200-day moving average of $6.30. The firm has a market cap of $368.60 million, a PE ratio of 25.96 and a beta of 0.61. Gilat Satellite Networks has a 1-year low of $4.51 and a 1-year high of $7.16.
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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.
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