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

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,010,000 shares, an increase of 16.1% from the November 15th total of 870,000 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 457,600 shares, the short-interest ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

CMTL has been the topic of a number of research analyst reports. StockNews.com raised shares of Comtech Telecommunications to a “sell” rating in a report on Tuesday, November 12th. B. Riley cut their target price on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating for the company in a research report on Monday, November 4th.

Hedge Funds Weigh In On Comtech Telecommunications

Institutional investors have recently modified their holdings of the company. TCW Group Inc. acquired a new position in shares of Comtech Telecommunications in the third quarter valued at approximately $3,452,000. Vanguard Group Inc. grew its holdings 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 purchasing an additional 10,111 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Comtech Telecommunications in the second quarter valued at approximately $174,000. AQR Capital Management LLC grew its holdings in Comtech Telecommunications by 90.4% in the second quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider’s stock valued at $629,000 after purchasing an additional 98,479 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Comtech Telecommunications in the second quarter valued at approximately $37,000.

Comtech Telecommunications Price Performance

CMTL traded down $0.08 during midday trading on Monday, reaching $3.28. 214,710 shares of the company’s stock were exchanged, compared to its average volume of 946,425. 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 stock has a market capitalization of $95.53 million, a PE ratio of -0.70 and a beta of 1.57. The business’s 50-day moving average price is $3.47 and its 200 day moving average price is $3.30. Comtech Telecommunications has a 1-year low of $1.53 and a 1-year high of $8.71.

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.