Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Rises By 6.7%

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 1,110,000 shares, a growth of 6.7% from the August 31st total of 1,040,000 shares. Based on an average trading volume of 547,000 shares, the days-to-cover ratio is presently 2.0 days.

Comtech Telecommunications Stock Down 7.1 %

Comtech Telecommunications stock opened at $4.47 on Wednesday. The company’s 50 day simple moving average is $3.33 and its 200 day simple moving average is $2.89. Comtech Telecommunications has a fifty-two week low of $1.53 and a fifty-two week high of $13.04. The firm has a market capitalization of $127.36 million, a price-to-earnings ratio of -3.17, a PEG ratio of 1.60 and a beta of 1.58. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.78 and a quick ratio of 1.28.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in Comtech Telecommunications by 8.2% in the first quarter. Empowered Funds LLC now owns 76,370 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 5,765 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Comtech Telecommunications by 42.3% in the fourth quarter. Quadrature Capital Ltd now owns 33,058 shares of the communications equipment provider’s stock valued at $278,000 after buying an additional 9,831 shares in the last quarter. Vanguard Group Inc. lifted its stake in Comtech Telecommunications by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock valued at $4,993,000 after buying an additional 10,111 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Comtech Telecommunications in the second quarter valued at approximately $31,000. Finally, Point72 DIFC Ltd bought a new position in Comtech Telecommunications in the second quarter valued at approximately $37,000.

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.