Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Expands By 88.2%

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 422,928 shares, a growth of 88.2% from the June 15th total of 224,681 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,396,558 shares, the short-interest ratio is currently 0.3 days.

Comtech Telecommunications Trading Down 2.4%

Shares of NASDAQ:CMTL traded down $0.04 during trading on Friday, reaching $1.62. The company’s stock had a trading volume of 96,597 shares, compared to its average volume of 439,201. The stock has a market capitalization of $48.54 million, a PE ratio of -0.73 and a beta of 1.51. Comtech Telecommunications has a 12 month low of $1.61 and a 12 month high of $6.21. The company has a current ratio of 1.61, a quick ratio of 1.19 and a debt-to-equity ratio of 4.02. The firm’s 50 day simple moving average is $3.40 and its two-hundred day simple moving average is $4.30.

Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings data on Monday, June 15th. The communications equipment provider reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. The company had revenue of $106.00 million for the quarter, compared to analysts’ expectations of $110.20 million. Comtech Telecommunications had a positive return on equity of 9.77% and a negative net margin of 5.52%. On average, research analysts predict that Comtech Telecommunications will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CMTL shares. Wall Street Zen raised Comtech Telecommunications from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings lowered shares of Comtech Telecommunications from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Institutional Trading of Comtech Telecommunications

A number of institutional investors have recently bought and sold shares of CMTL. Hsbc Holdings PLC increased its position in Comtech Telecommunications by 17.0% during the first quarter. Hsbc Holdings PLC now owns 22,609 shares of the communications equipment provider’s stock valued at $72,000 after acquiring an additional 3,278 shares during the last quarter. Geode Capital Management LLC grew its holdings in Comtech Telecommunications by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 338,589 shares of the communications equipment provider’s stock valued at $1,792,000 after purchasing an additional 3,411 shares during the last quarter. UBS Group AG raised its position in Comtech Telecommunications by 1.8% in the 3rd quarter. UBS Group AG now owns 236,937 shares of the communications equipment provider’s stock worth $611,000 after purchasing an additional 4,157 shares during the period. Kestra Advisory Services LLC bought a new stake in Comtech Telecommunications in the fourth quarter worth about $26,000. Finally, Cetera Investment Advisers grew its stake in shares of Comtech Telecommunications by 25.9% during the second quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after buying an additional 5,192 shares during 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.