Comtech Telecommunications Corp. (NASDAQ:CMTL) Sees Significant Growth in Short Interest

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 2,730,000 shares, an increase of 25.8% from the March 31st total of 2,170,000 shares. Based on an average daily trading volume, of 559,800 shares, the days-to-cover ratio is currently 4.9 days.

Comtech Telecommunications Stock Performance

NASDAQ:CMTL traded down $0.15 during trading hours on Tuesday, reaching $1.88. The company’s stock had a trading volume of 570,517 shares, compared to its average volume of 533,729. The firm has a market capitalization of $53.52 million, a price-to-earnings ratio of -1.11, a PEG ratio of 1.83 and a beta of 1.46. Comtech Telecommunications has a 1 year low of $1.53 and a 1 year high of $13.04. The firm has a 50-day simple moving average of $4.00 and a 200-day simple moving average of $7.47.

Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings data on Monday, March 18th. The communications equipment provider reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.45). The company had revenue of $134.23 million for the quarter, compared to analysts’ expectations of $152.85 million. Comtech Telecommunications had a negative net margin of 4.02% and a negative return on equity of 0.25%. Equities analysts anticipate that Comtech Telecommunications will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wasatch Advisors LP purchased a new position in shares of Comtech Telecommunications during the 1st quarter worth about $2,651,000. Oak Thistle LLC acquired a new position in Comtech Telecommunications during the 1st quarter valued at approximately $66,000. Quadrature Capital Ltd increased its stake in shares of Comtech Telecommunications by 42.3% in the fourth quarter. Quadrature Capital Ltd now owns 33,058 shares of the communications equipment provider’s stock worth $278,000 after acquiring an additional 9,831 shares during the period. Invenomic Capital Management LP acquired a new stake in Comtech Telecommunications during the fourth quarter valued at $1,592,000. Finally, Penn Mutual Asset Management LLC acquired a new stake in Comtech Telecommunications in the fourth quarter valued at approximately $2,898,000.

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.