It is trading at $7.00 which is marginally higher than $6.39, the stock’s 50 day moving average and which is quite a bit higher than the 200 day moving average of $5.47. The 50 day moving average moved up $0.61 and the 200 day average went up $1.53 or +28.05%. 94K shares changed hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 267.81% over the normal average daily volume.
Investors are feeling more bearish on Gilat Satellite Networks Ltd. – of late as inferred by the change in short interest. The company experienced a rise in short interest from September 29, 2017 to October 13, 2017 of 400.55%. Short shares grew from 3,819 to 19,116 over that period. The days to cover increased to 2.0 and the percentage of shorted shares was 0.00% on October 13.
The following firms have recently changed their position in GILT. As of the end of the quarter Wells Fargo & Company/mn had disposed of a total of 24,894 shares trimming its stake by 4.8%. The value of the investment in GILT went from $2,625,000 to $2,549,000 a change of $76,000 since the last quarter. As of quarter end Renaissance Technologies LLC had bought 13,500 shares growing its position 0.5%. The value of the total investment in Gilat Satellite Networks Ltd. – increased from $13,713,000 to $14,054,000 increasing 2.5% for the reporting period.
As of quarter end Stelliam Investment Management, Lp had acquired a total of 15,000 shares growing its holdings by 4.5%. The value of the investment in (GILT) increased from $1,698,000 to $1,806,000 a change of 6.4% quarter to quarter. As of the end of the quarter Edmond De Rothschild Holding S.a. had bought 4,750 shares growing its stake by 13.8%. The value in dollars increased from $173,000 to $193,000 increasing 11.6% quarter over quarter.
The company currently has a P/E ratio of 104.48 and market capitalization is 382.73M.
Gilat Satellite Networks Ltd., launched on June 28, 1987, is a provider of satellite-based broadband communications. The Company operates through three segments: Commercial, Mobility and Services divisions. The Company designs and manufactures satellite ground segment and networking communications equipment, which it sells to its customers either as network components (modems, Block Up converters (BUCs), antennas) or as complete network solutions (which include hubs and related terminals and services) or turnkey projects. The equipment that the Company develops includes commercial Very Small Aperture Terminals (VSAT) systems, defense and homeland security satellite communications systems, solid-state power amplifiers (SSPAs), BUCs, low-profile antennas, on-the-Move/on-the-Pause terminals and modems. The Business’s equipment is used by satellite operators, service providers, telecommunications operators, system integrators, government and defense organizations, large corporations and enterprises. It sells and distributes products, and provides services internationally, in Latin America, Asia, Asia Pacific, North America, Africa and Europe. In particular, the Company provides connectivity services, Internet access and telephony, to enterprise, government and residential customers in Peru and Colombia over its own networks, built using both its equipment and equipment purchased from other manufacturers in various technologies. It also provides Network Operation Centers (NOC) operations and hub services, such as in Australia..