Comtech Telecommunications Corp. (NASDAQ:CMTL) Shares Shorted: Short Interest Up 84.7% in October

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 616,738 shares, an increase of 84.7% from the September 30th total of 333,833 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 395,363 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Comtech Telecommunications

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMTL. Vontobel Holding Ltd. purchased a new position in shares of Comtech Telecommunications in the third quarter worth about $29,000. Hsbc Holdings PLC lifted its stake in Comtech Telecommunications by 17.0% in the 1st quarter. Hsbc Holdings PLC now owns 22,609 shares of the communications equipment provider’s stock worth $72,000 after purchasing an additional 3,278 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Comtech Telecommunications by 61.7% in the 2nd quarter. Squarepoint Ops LLC now owns 63,649 shares of the communications equipment provider’s stock valued at $134,000 after purchasing an additional 24,295 shares during the period. Cetera Investment Advisers grew its position in Comtech Telecommunications by 80.6% during the first quarter. Cetera Investment Advisers now owns 40,962 shares of the communications equipment provider’s stock worth $136,000 after buying an additional 18,287 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Comtech Telecommunications in the first quarter worth approximately $236,000.

Comtech Telecommunications Trading Down 3.8%

Shares of NASDAQ:CMTL opened at $1.27 on Friday. The business’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $3.21. Comtech Telecommunications has a 1 year low of $1.14 and a 1 year high of $6.21. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.84 and a quick ratio of 0.80. The company has a market capitalization of $38.28 million, a P/E ratio of -0.55 and a beta of 1.59.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. B. Riley Financial lowered their target price on Comtech Telecommunications from $6.00 to $4.75 and set a “buy” rating for the company in a research note on Thursday, October 15th. Northcoast Research started coverage on Comtech Telecommunications in a research report on Thursday, July 23rd. They issued a “buy” rating and a $2.50 price target on the stock. Wall Street Zen upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings raised Comtech Telecommunications from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comtech Telecommunications has a consensus rating of “Hold” and a consensus target price of $3.62.

About Comtech Telecommunications

Comtech Telecommunications Corp. (NASDAQ: CMTL) is a technology company that develops communications infrastructure and systems for government, defense, public safety, commercial, and wireless-network customers. Founded in 1967, the company provides solutions designed to support reliable connectivity in remote, mobile, and mission-critical environments.

Its product and service offerings include satellite and terrestrial communications systems, satellite modems, high-performance data links, troposcatter communications equipment, location-based technologies, and network-management solutions.