Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Drops By 6.8%

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 950,700 shares, a decline of 6.8% from the December 15th total of 1,020,000 shares. Based on an average daily volume of 494,200 shares, the short-interest ratio is currently 1.9 days. Currently, 3.7% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts recently issued reports on CMTL shares. B. Riley decreased their target price on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com raised Comtech Telecommunications to a “sell” rating in a report on Thursday, January 2nd.

Institutional Investors Weigh In On Comtech Telecommunications

Several hedge funds have recently modified their holdings of CMTL. TCW Group Inc. purchased a new position in Comtech Telecommunications during the 3rd quarter worth $3,452,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Comtech Telecommunications during the second quarter worth about $174,000. Geode Capital Management LLC raised its stake in shares of Comtech Telecommunications by 10.6% during the 3rd quarter. Geode Capital Management LLC now owns 346,840 shares of the communications equipment provider’s stock worth $1,669,000 after buying an additional 33,305 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Comtech Telecommunications by 90.4% in the 2nd quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider’s stock valued at $629,000 after buying an additional 98,479 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Comtech Telecommunications in the second quarter valued at approximately $37,000.

Comtech Telecommunications Stock Performance

Shares of CMTL traded down $0.03 during mid-day trading on Friday, hitting $2.63. 355,597 shares of the company’s stock were exchanged, compared to its average volume of 606,960. The company has a current ratio of 1.83, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. Comtech Telecommunications has a fifty-two week low of $1.53 and a fifty-two week high of $8.18. The business’s 50 day moving average is $3.43 and its two-hundred day moving average is $3.44. The firm has a market capitalization of $76.59 million, a P/E ratio of -0.56 and a beta of 1.52.

Comtech Telecommunications (NASDAQ:CMTL) last posted its quarterly earnings data on Monday, January 13th. The communications equipment provider reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.88). Comtech Telecommunications had a positive return on equity of 2.38% and a negative net margin of 18.50%. On average, equities analysts expect that Comtech Telecommunications will post -0.53 earnings per share for the current year.

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.