Short Interest in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Sees Significant Rise of 80.9%

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) experienced a noteworthy increase in short interest during January. As of January 31st, the total short interest had reached 248,400 shares, marking a substantial rise of 80.9% from the earlier figure of 137,300 shares recorded on January 15th. This indicates that approximately 0.5% of the company's shares are currently short sold. Given an average daily trading volume of 389,600 shares, the days-to-cover ratio stands at 0.6 days.

Recent Analyst Insights

Different financial institutions have recently provided their outlook on Gilat Satellite Networks. StockNews.com upgraded the company from a "buy" rating to a "strong-buy" rating on November 15th. Additionally, Needham & Company LLC reaffirmed a "buy" rating and set a price target of $8.50 for Gilat Satellite Networks in a report released on Thursday.

Changes in Institutional Holdings

Several institutional investors have made adjustments to their stakes in Gilat Satellite Networks recently. Covestor Ltd acquired a new position valued at approximately $29,000 in the fourth quarter. Similarly, BNP Paribas Financial Markets invested about $27,000 into the company in the third quarter. Quarry LP and Virtu Financial LLC also joined in, acquiring stakes worth around $68,000 and $61,000, respectively. Lastly, Commonwealth of Pennsylvania Public School Employees Retirement System purchased shares valued at about $85,000 during the fourth quarter. Overall, institutional investors hold 35.72% of the company's stock.

Gilat Satellite Networks Stock Performance

On Friday, Gilat Satellite Networks saw its stock price decrease by $0.06, bringing it to a trading value of $6.78. The volume of shares traded reached 552,955, compared to an average trading volume of 400,362. Over the past year, the stock's lowest price was $4.04, while its highest was $7.76. The company has maintained a 50-day moving average of $6.54 and a 200-day moving average of $5.49. Key financial ratios include a quick ratio of 1.84, a current ratio of 2.17, and a debt-to-equity ratio of 0.01. As of now, Gilat Satellite Networks has a market capitalization of $386.60 million and a price-to-earnings ratio of 23.38.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) revealed its quarterly earnings results on February 12th. The communication equipment company reported earnings per share (EPS) of $0.15, slightly exceeding the analysts' consensus estimate of $0.14. The firm reported a net margin of 5.46% and a return on equity of 9.30%. Analysts predict that Gilat Satellite Networks will achieve an EPS of 0.48 in the current fiscal year.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd. delivers satellite-based broadband communication solutions across multiple regions, including Israel, the United States, and Peru. The company operates in three main segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its offerings include a variety of broadband satellite network platforms, very small aperture terminals, modems, amplifiers, antennas, amplifiers, and related field services.

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