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

Comtech Telecommunications Corp. (NASDAQ:CMTLGet Free Report) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 2,970,000 shares, a decrease of 6.3% from the May 31st total of 3,170,000 shares. Based on an average daily trading volume, of 2,270,000 shares, the short-interest ratio is presently 1.3 days.

Comtech Telecommunications Trading Up 6.6 %

Comtech Telecommunications stock traded up $0.20 during trading on Wednesday, reaching $3.23. 389,034 shares of the company were exchanged, compared to its average volume of 1,435,133. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.78 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $2.44 and its two-hundred day simple moving average is $4.59. The company has a market capitalization of $92.03 million, a P/E ratio of -2.29, a PEG ratio of 4.73 and a beta of 1.58. Comtech Telecommunications has a 52-week low of $1.53 and a 52-week high of $13.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CMTL. Virtu Financial LLC purchased a new position in Comtech Telecommunications in the first quarter worth approximately $81,000. FourWorld Capital Management LLC acquired a new stake in shares of Comtech Telecommunications during the 1st quarter worth about $153,000. Invenomic Capital Management LP increased its position in shares of Comtech Telecommunications by 369.1% during the 1st quarter. Invenomic Capital Management LP now owns 886,135 shares of the communications equipment provider’s stock worth $3,039,000 after purchasing an additional 697,248 shares during the last quarter. Huber Capital Management LLC raised its holdings in Comtech Telecommunications by 19.6% in the 1st quarter. Huber Capital Management LLC now owns 278,128 shares of the communications equipment provider’s stock valued at $954,000 after buying an additional 45,616 shares during the period. Finally, Archon Capital Management LLC lifted its position in Comtech Telecommunications by 15.4% in the first quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock valued at $5,678,000 after buying an additional 221,380 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded shares of Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 price target on the stock in a research report on Tuesday, June 25th.

Check Out Our Latest Stock Report on Comtech Telecommunications

Comtech Telecommunications Company Profile

(Get Free Report)

Comtech Telecommunications Corp., together with its subsidiaries, engages in the provision of next-gen telecommunication solutions in the United States and internationally. The company's Satellite and Space Communications segment offers satellite ground station technologies, services and system integration that facilitates the transmission of voice, video, and data over GEO, MEO and LEO satellite constellations, including solid-state and traveling wave tube power amplifiers, modems, VSAT platforms, and frequency converters; and satellite communications and tracking antenna systems, including high precision full motion fixed and mobile X/Y tracking antennas, RF feeds, reflectors, and radomes.

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