Comtech Telecommunications (NASDAQ:CMTL) Price Target Cut to $9.25 by Analysts at B. Riley

Comtech Telecommunications (NASDAQ:CMTL) had its price target reduced by B. Riley from $12.25 to $9.25 in a research note published on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the communications equipment provider’s stock.

Comtech Telecommunications Trading Up 8.5 %

Shares of Comtech Telecommunications stock opened at $2.69 on Monday. The stock has a market capitalization of $77.66 million, a P/E ratio of -0.57, a price-to-earnings-growth ratio of 1.03 and a beta of 1.61. Comtech Telecommunications has a 12-month low of $1.53 and a 12-month high of $12.92. The company has a quick ratio of 1.33, a current ratio of 1.83 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $3.72 and a 200 day simple moving average of $3.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CMTL. Royce & Associates LP acquired a new position in shares of Comtech Telecommunications during the third quarter worth approximately $4,759,000. Invenomic Capital Management LP lifted its position in 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 valued at $3,039,000 after purchasing an additional 697,248 shares during the period. Archon Capital Management LLC boosted its stake in shares of Comtech Telecommunications by 15.4% in the 1st quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock valued at $5,678,000 after purchasing an additional 221,380 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position in shares of Comtech Telecommunications by 21.8% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock worth $1,704,000 after buying an additional 100,577 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Comtech Telecommunications by 90.4% during the second quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider’s stock worth $629,000 after buying an additional 98,479 shares during the last quarter.

About Comtech Telecommunications

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.