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

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,650,000 shares, an increase of 28.9% from the February 13th total of 1,280,000 shares. Based on an average daily volume of 569,000 shares, the short-interest ratio is presently 2.9 days. Currently, 5.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On Comtech Telecommunications

Several institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Comtech Telecommunications during the fourth quarter valued at about $27,000. Williams Jones Wealth Management LLC. bought a new stake in Comtech Telecommunications during the 4th quarter worth approximately $40,000. Marshall Wace LLP bought a new position in shares of Comtech Telecommunications in the fourth quarter valued at approximately $44,000. Cetera Investment Advisers purchased a new position in shares of Comtech Telecommunications during the fourth quarter valued at approximately $60,000. Finally, Gamco Investors INC. ET AL bought a new stake in Comtech Telecommunications during the fourth quarter worth $68,000.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a report on Thursday, January 2nd.

Comtech Telecommunications Stock Performance

Shares of NASDAQ CMTL traded up $0.25 during midday trading on Monday, reaching $2.01. The stock had a trading volume of 198,402 shares, compared to its average volume of 987,853. Comtech Telecommunications has a twelve month low of $1.53 and a twelve month high of $5.16. The company’s 50 day moving average price is $2.35 and its 200 day moving average price is $3.14. The firm has a market cap of $59.05 million, a price-to-earnings ratio of -0.20 and a beta of 1.55.

Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, March 12th. The communications equipment provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The business had revenue of $126.57 million for the quarter, compared to analyst estimates of $117.00 million. Comtech Telecommunications had a negative return on equity of 8.76% and a negative net margin of 48.97%. Equities analysts forecast that Comtech Telecommunications will post -2.38 earnings per share for the current fiscal year.

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.