Comtech Telecommunications (NASDAQ:CMTL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Comtech Telecommunications Corp. (NASDAQ:CMTL) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.76 and traded as high as $5.53. Comtech Telecommunications shares last traded at $5.29, with a volume of 334,432 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on CMTL shares. Zacks Research upgraded Comtech Telecommunications to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Comtech Telecommunications in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Comtech Telecommunications has a consensus rating of “Hold” and an average target price of $6.00.

Comtech Telecommunications Price Performance

The company has a fifty day simple moving average of $3.42 and a two-hundred day simple moving average of $2.76. The stock has a market capitalization of $156.74 million, a price-to-earnings ratio of -2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.27 and a current ratio of 1.70.

Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, June 21st. The communications equipment provider reported $0.25 EPS for the quarter. The company had revenue of $122.12 million for the quarter. Comtech Telecommunications had a positive return on equity of 8.35% and a negative net margin of 4.60%. As a group, equities research analysts expect that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cresset Asset Management LLC bought a new stake in Comtech Telecommunications during the third quarter worth $39,000. Covestor Ltd acquired a new position in shares of Comtech Telecommunications during the 3rd quarter worth $53,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Comtech Telecommunications during the 1st quarter worth $59,000. Cetera Investment Advisers lifted its position in shares of Comtech Telecommunications by 25.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock worth $62,000 after buying an additional 5,192 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Comtech Telecommunications by 86.8% in the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 20,726 shares in the last quarter.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.