Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Down 30.0% in October

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 748,600 shares, a drop of 30.0% from the October 15th total of 1,070,000 shares. Based on an average trading volume of 407,600 shares, the short-interest ratio is currently 1.8 days. Currently, 2.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Archon Capital Management LLC increased its holdings in shares of Comtech Telecommunications by 15.4% during the first quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock worth $5,678,000 after purchasing an additional 221,380 shares during the period. Vanguard Group Inc. raised its holdings in Comtech Telecommunications by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock valued at $4,993,000 after acquiring an additional 10,111 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of Comtech Telecommunications during the 3rd quarter worth $4,759,000. Invenomic Capital Management LP increased its position in shares of Comtech Telecommunications by 369.1% in the first 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 period. Finally, Pacific Ridge Capital Partners LLC raised its stake in Comtech Telecommunications by 21.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock valued at $1,704,000 after purchasing an additional 100,577 shares in the last quarter.

Comtech Telecommunications Stock Performance

Shares of NASDAQ:CMTL traded up $0.18 during trading on Thursday, reaching $2.71. 727,329 shares of the stock were exchanged, compared to its average volume of 1,003,455. Comtech Telecommunications has a 12 month low of $1.53 and a 12 month high of $12.57. The stock has a 50-day moving average price of $3.67 and a 200-day moving average price of $3.10. The company has a current ratio of 1.83, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The firm has a market cap of $78.24 million, a PE ratio of -0.58 and a beta of 1.61.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Comtech Telecommunications to a “sell” rating in a research note on Tuesday. B. Riley decreased their target price on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a report on Monday, November 4th.

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.