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

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient 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. Currently, 5.8% of the company’s stock are sold short. Based on an average daily trading volume, of 569,000 shares, the short-interest ratio is currently 2.9 days.

Institutional Trading of Comtech Telecommunications

Several institutional investors and hedge funds have recently bought and sold shares of CMTL. Royce & Associates LP bought a new position in shares of Comtech Telecommunications in the third quarter worth approximately $4,759,000. 272 Capital LP bought a new position in Comtech Telecommunications in the third quarter valued at $94,000. B. Riley Financial Inc. purchased a new stake in Comtech Telecommunications during the third quarter valued at about $155,000. Needham Investment Management LLC boosted its stake in Comtech Telecommunications by 17.8% in the third quarter. Needham Investment Management LLC now owns 1,502,500 shares of the communications equipment provider’s stock worth $7,227,000 after buying an additional 227,500 shares in the last quarter. Finally, Penn Mutual Asset Management grew its position in Comtech Telecommunications by 62.7% during the third quarter. Penn Mutual Asset Management now owns 332,004 shares of the communications equipment provider’s stock valued at $1,597,000 after acquiring an additional 128,000 shares during the last quarter.

Analyst Ratings Changes

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

Comtech Telecommunications Trading Up 14.3 %

Shares of CMTL stock traded up $0.25 during trading hours on Monday, hitting $2.01. 198,402 shares of the company were exchanged, compared to its average volume of 987,853. Comtech Telecommunications has a 52-week low of $1.53 and a 52-week high of $5.16. The firm has a fifty day simple moving average of $2.35 and a 200 day simple moving average of $3.14. The stock has a market capitalization of $59.05 million, a price-to-earnings ratio of -0.20 and a beta of 1.55.

Comtech Telecommunications (NASDAQ:CMTL) last posted its earnings results on Wednesday, March 12th. The communications equipment provider reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The business had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $117.00 million. Comtech Telecommunications had a negative return on equity of 8.76% and a negative net margin of 48.97%. Sell-side analysts anticipate that Comtech Telecommunications will post -2.38 EPS for the current 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.