The stock of Gilat Satellite Networks Ltd. (NASDAQ:GILT) is now priced at $5.21 and the shares are -0.08 points down or -1.51% lower compared to its previous closing price of $5.29. The stock had 105822 contracts set over the past session. GILT shares’ daily volume is compared to its average trading volume at 444834 shares. However, it has a float of 30.21 million and although its performance was -3.61% over the week, it’s one to watch. Analysts have given the GILT stock a yearly average price target of $5.5 per share. It means the stock’s upside potential is 5.57% with the GILT share price recently placing at $5.12 to $5.35. However, some brokerage firms have priced the stock below the average, including one that has called $5.42.
The shorts are climbing into the Gilat Satellite Networks Ltd. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the GILT shares have risen. Short interest in the stock represents just 0.71% of its float, but the volume has raised by 33219. The volume of shorted shares rised to 213837 from 180618 shares over the last two weeks. The average intraday trading volume has been 334807 shares, which means that days to cover moved to roughly 1.
In the last trading session, Gilat Satellite Networks Ltd. (NASDAQ:GILT) dropped by -$0.2 over the week and lost -$0.99 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $10.76. The stock recorded its established 52-week high on 01/21/20.
Since 03/19/20, the stock has traded to a low of $4.7 at 10.85%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.91. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Gilat Satellite Networks Ltd.’s two-week RSI is 28.9. This suggests that the stock is overbought at the moment and that GILT shares’ price movement remains not stable. The stochastic readings are equally revealing at 22.47% meaning the GILT share price is currently in overbought territory.
The technical chart shows that the GILT stock will likely settle at between $5.29 and $5.37 per share. However, if the stock dips below $5.14, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.08.
Currently, the stock is trading in the green of MACD, with a reading of 0.01. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at National Securities cut their recommendation for GILT from Buy to Neutral in February 13 review. Brigantine analysts see the stock as a Buy with a target price of $5.5 in a flash note released to investors on March 29 initiating covering the stock. Oppenheimer analysts see the stock as Perform when the analysts initiated the share price coverage on June 22, placing it at $5.
Elsewhere, the GILT stocks P/S ratio currently stands at 13.6below the group’s average of 33.9. Gilat Satellite Networks Ltd. has its P/E ratio at 1.2, which means that the stock is currently trading at a discount relative to the 3.7 industry average.