MW This space stock is up on new orders for its satellite networking technology

By James Rogers

Shares of Gilat Satellite Networks are up 2.8% premarket

Shares of Gilat Satellite Networks Ltd. are up 2.8% in premarket trades after the Petah Tikva, Israel-based company said that it has received $9 million in orders from major satellite operators.

Gilat $(GILT)$, which provides satellite-based broadband communications, said that the orders are for its SkyEdge IV and SkyEdge II-c equipment and services. Delivery is scheduled within the next 12 months, the company said in a statement.

Related: These are the space stocks to watch in 2025

The company has announced several deals recently. On Dec. 30, Gilat said it clinched over $18 million in orders for technologies to support in-flight connectivity on aircraft. In late October, Gilat said it received approximately $5 million in orders from U.S. Department of Defense customers, just days after announcing that its U.S. subsidiary DataPath was awarded a more than $4 million contract from the Department of Defense.

Gilat shares are down 0.8% this year.

Related: This space stock is up more than 400% this year as second moon mission looms

Many space stocks have started 2025 strongly, continuing their momentum from 2024. Shares of Intuitive Machines Inc. (LUNR) are up 20.5% this year, and AST SpaceMobile Inc. $(ASTS)$ is up 13.6%, while Rocket Lab USA Inc. $(RKLB)$ is up 12.8%. Planet Labs PBC $(PL)$ is up 4.5%, while satellite-services company Globalstar Inc. $(GSAT)$ is up 6.3%. Redwire Corp. $(RDW.UK)$, a manufacturer and supplier of space equipment, is up 9.9%.

-James Rogers

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January 06, 2025 08:23 ET (13:23 GMT)

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