Gilat Satellite Networks (NASDAQ:GILT) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday, BidAskClub reports.

Separately, TheStreet cut Gilat Satellite Networks from a “b” rating to a “c+” rating in a research note on Monday, June 8th.

Shares of NASDAQ:GILT remained flat at $$5.59 during trading on Thursday. The stock had a trading volume of 142,739 shares, compared to its average volume of 609,029. The stock has a market capitalization of $310.19 million, a price-to-earnings ratio of 14.33 and a beta of 0.96. Gilat Satellite Networks has a 52-week low of $4.70 and a 52-week high of $10.76. The firm’s 50-day simple moving average is $5.80 and its two-hundred day simple moving average is $7.79.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Wednesday, June 3rd. The communications equipment provider reported ($0.16) earnings per share (EPS) for the quarter. Gilat Satellite Networks had a return on equity of 4.45% and a net margin of 8.82%. The company had revenue of $47.67 million during the quarter.

Several hedge funds have recently modified their holdings of GILT. Alpine Associates Management Inc. bought a new position in Gilat Satellite Networks in the 1st quarter worth $11,939,000. Water Island Capital LLC bought a new stake in Gilat Satellite Networks during the first quarter valued at about $6,536,000. Norges Bank bought a new stake in Gilat Satellite Networks during the fourth quarter valued at about $11,426,000. Dupont Capital Management Corp bought a new stake in Gilat Satellite Networks during the first quarter valued at about $2,680,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Gilat Satellite Networks during the first quarter valued at about $2,626,000. 28.63% of the stock is owned by hedge funds and other institutional investors.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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