Gilat Satellite Networks Ltd. (GILT) Stock up over 6% on Amended Statement of Owership Filing

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Gilat Satellite Networks Ltd. (NASDAQ:GILT) shares have gone up in morning trading after the company released a sc 13g/a (Schedule 13G) “Amended Statement of Ownership” for 3.9 million shares to MIVTAH SHAMIR HOLDINGS LTD, which makes up 8.93% of the class.

The stock is up 6.71% or $0.22 after the news, hitting $3.5 per share. About 92,630 shares traded hands or 18.36% up from the average. GILT has declined 48.18% since April 24, 2015 and is downtrending. It has underperformed by 46.82% the S&P500.

Gilat Satellite Networks Ltd. is a well-known provider of services and products for satellite broadband communications. The company has a market cap of $141.62 million.

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