Gilat Satellite Networks (NASDAQ:GILT) Sees Unusually-High Trading Volume Following Earnings Beat

Gilat Satellite Networks (NASDAQ:GILT) experienced a 65% increase in trading volume after reporting better-than-expected quarterly earnings, with shares rising to $13.4990. The company reported $0.19 EPS, surpassing the $0.13 consensus estimate. Analysts have mixed ratings on the stock, with a consensus "Hold" rating and an average target price of $11.00. Institutional investors have been adjusting their stakes, and the stock's market cap is $761.78 million.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) saw unusually-high trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 959,874 shares were traded during mid-day trading, an increase of 65% from the previous session's volume of 581,021 shares.The stock last traded at $13.4990 and had previously closed at $12.48.

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The communications equipment provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%. Gilat Satellite Networks has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GILT shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gilat Satellite Networks in a research note on Wednesday, October 8th. Zacks Research cut shares of Gilat Satellite Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Wall Street Zen cut Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 18th. Finally, Needham & Company LLC increased their price objective on Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Gilat Satellite Networks presently has a consensus rating of "Hold" and an average target price of $11.00.

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Check Out Our Latest Report on Gilat Satellite Networks

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. purchased a new position in shares of Gilat Satellite Networks during the 3rd quarter valued at $26,000. USA Financial Formulas acquired a new stake in Gilat Satellite Networks during the third quarter valued at $39,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Gilat Satellite Networks during the third quarter valued at $64,000. McIlrath & Eck LLC lifted its holdings in shares of Gilat Satellite Networks by 383.1% during the 3rd quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider's stock valued at $75,000 after buying an additional 4,586 shares during the last quarter. Finally, Assetmark Inc. acquired a new stake in Gilat Satellite Networks in the third quarter valued at approximately $76,000. Hedge funds and other institutional investors own 35.72% of the company's stock.

Gilat Satellite Networks Stock Up 6.7%

The firm has a market cap of $761.78 million, a P/E ratio of 34.13 and a beta of 0.62. The business's fifty day moving average price is $12.77 and its two-hundred day moving average price is $9.20. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18.

Gilat Satellite Networks Company Profile

(Get Free Report)

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.

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