Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Update

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 305,497 shares, a drop of 36.5% from the April 30th total of 480,769 shares. Based on an average daily trading volume, of 177,005 shares, the short-interest ratio is currently 1.7 days. Approximately 1.1% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Comtech Telecommunications Stock Performance

NASDAQ:CMTL opened at $5.64 on Thursday. The firm’s fifty day moving average price is $4.02 and its 200 day moving average price is $4.45. Comtech Telecommunications has a 1-year low of $1.71 and a 1-year high of $6.21. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.69 and a quick ratio of 1.23. The firm has a market cap of $167.68 million, a price-to-earnings ratio of -2.53 and a beta of 1.40.

Comtech Telecommunications (NASDAQ:CMTL) last posted its quarterly earnings data on Monday, March 16th. The communications equipment provider reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Comtech Telecommunications had a net margin of 2.60% and a return on equity of 50.25%. The firm had revenue of $106.76 million for the quarter, compared to analyst estimates of $113.85 million. On average, sell-side analysts expect that Comtech Telecommunications will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Comtech Telecommunications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in Comtech Telecommunications in the fourth quarter valued at $26,000. Cresset Asset Management LLC acquired a new stake in Comtech Telecommunications in the third quarter valued at $39,000. Dynamic Technology Lab Private Ltd acquired a new stake in Comtech Telecommunications in the first quarter valued at $59,000. Cetera Investment Advisers lifted its holdings in Comtech Telecommunications by 25.9% in the second quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after acquiring an additional 5,192 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 20,726 shares during the period.

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.