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

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

Institutional Investors Weigh In On Gilat Satellite Networks

A number of hedge funds have recently added to or reduced their stakes in GILT. Virtu Financial LLC acquired a new position in shares of Gilat Satellite Networks during the third quarter worth approximately $61,000. BNP Paribas Financial Markets acquired a new position in Gilat Satellite Networks during the 3rd quarter worth $27,000. GSA Capital Partners LLP bought a new stake in Gilat Satellite Networks during the 3rd quarter worth about $140,000. Marshall Wace LLP increased its stake in Gilat Satellite Networks by 410.2% in the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock valued at $578,000 after purchasing an additional 103,924 shares in the last quarter. Finally, Clearline Capital LP bought a new stake in Gilat Satellite Networks during the 2nd quarter worth approximately $73,000. Institutional investors own 35.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GILT. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Thursday. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th. Finally, William Blair started coverage on shares of Gilat Satellite Networks in a report on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Price Performance

Shares of GILT stock traded up $0.09 during trading hours on Friday, hitting $6.67. 267,087 shares of the company’s stock were exchanged, compared to its average volume of 307,976. Gilat Satellite Networks has a 52 week low of $4.04 and a 52 week high of $6.82. The stock has a market cap of $380.32 million, a price-to-earnings ratio of 23.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.84. The stock’s 50-day moving average is $5.91 and its 200-day moving average is $5.15.

About Gilat Satellite Networks

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.