Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Increases By 16.2%

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 870,000 shares, a growth of 16.2% from the October 31st total of 748,600 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily volume of 434,200 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of Comtech Telecommunications

Institutional investors have recently bought and sold shares of the stock. Royce & Associates LP acquired a new stake in shares of Comtech Telecommunications during the third quarter valued at about $4,759,000. TCW Group Inc. purchased a new stake in Comtech Telecommunications in the 3rd quarter worth approximately $3,452,000. Needham Investment Management LLC raised its holdings in shares of Comtech Telecommunications by 17.8% during the 3rd quarter. Needham Investment Management LLC now owns 1,502,500 shares of the communications equipment provider’s stock valued at $7,227,000 after buying an additional 227,500 shares in the last quarter. Penn Mutual Asset Management raised its position in Comtech Telecommunications by 62.7% during the 3rd quarter. Penn Mutual Asset Management now owns 332,004 shares of the communications equipment provider’s stock valued at $1,597,000 after purchasing an additional 128,000 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its stake in shares of Comtech Telecommunications by 21.8% in 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 acquiring an additional 100,577 shares in the last quarter.

Analyst Upgrades and Downgrades

CMTL has been the subject of several recent research reports. B. Riley lowered their price target on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a report on Tuesday, November 12th.

Comtech Telecommunications Price Performance

NASDAQ CMTL traded down $0.03 during mid-day trading on Tuesday, reaching $3.66. 297,268 shares of the company’s stock traded hands, compared to its average volume of 436,746. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 1.33. The company has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $3.22. Comtech Telecommunications has a 1-year low of $1.53 and a 1-year high of $12.51.

Comtech Telecommunications Company Profile

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.