Gilat Satellite Networks Ltd. (NASDAQ: GILT) sees sharp rise in short-term interest

Gilat Satellite Networks Ltd. (NASDAQ: GILT) saw a sharp increase in short-term interest in December. As of December 15, there was short interest totaling 255,400 shares, an increase of 79.0% from the total of 142,700 shares as of November 30. Currently 0.6% of the company’s shares are sold short. Based on an average daily volume of 427,900 shares, the day / hedge ratio is currently 0.6 days.

Several hedge funds have recently increased or reduced their stake in GILT. Thrivent Financial for Lutherans increased its position in shares of Gilat Satellite Networks by 985.1% in the third quarter. Thrivent Financial for Lutherans now owns 2,691,990 shares of the communications equipment supplier valued at $ 24,201,000 after acquiring 2,443,913 additional shares during the period. Ghisallo Capital Management LLC purchased a new position in Gilat Satellite Networks shares in the third quarter valued at approximately $ 8,769,000. Caas Capital Management LP purchased a new position in Gilat Satellite Networks shares in the third quarter valued at approximately $ 6,007,000. First Trust Advisors LP increased its position in shares of Gilat Satellite Networks by 156.4% in the second quarter. First Trust Advisors LP now owns 262,353 shares of the communications equipment supplier valued at $ 2,671,000 after acquiring an additional 160,024 shares during the period. Finally, State Street Corp increased its position in shares of Gilat Satellite Networks by 23.1% in the second quarter. State Street Corp now owns 575,855 shares of the communications equipment supplier valued at $ 5,862,000 after acquiring an additional 107,878 shares during the period. Hedge funds and other institutional investors hold 33.68% of the company’s shares.

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“Bigger than the Internet” technology represents a huge opportunity for investors.

NASDAQ: GILT traded up $ 1.49 during trading hours on Monday, reaching $ 8.56. The company’s shares had a trading volume of 2,339,675 shares, compared to its average volume of 1,021,601. The company has a market capitalization of $ 483.97 million, a price / earnings ratio of 8. 27 and a beta of 0.26. The company has a 50-day simple moving average of $ 7.58 and a 200-day simple moving average of $ 8.91. Gilat Satellite Networks has a one-year low at $ 6.58 and a one-year high at $ 22.69.

Gilat Satellite Networks (NASDAQ: GILT) last released its results on Tuesday, November 9. The communications equipment supplier reported EPS of $ 0.01 for the quarter, beating analyst consensus estimates of $ 0.01 by $ 0.02. The company reported sales of $ 49.91 million for the quarter. Gilat Satellite Networks had a net margin of 29.55% and a negative return on equity of 3.11%.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd. provides satellite communications and broadband networking solutions and services. It operates through the following business sectors: fixed networks, mobility solutions and land infrastructure projects. The Fixed Networks segment provides advanced fixed broadband satellite communication networks, satellite communication systems and related professional services, as well as complete turnkey solutions and fully managed satellite network services solutions.

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