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

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 224,681 shares, a decrease of 35.1% from the May 31st total of 346,164 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 780,968 shares, the short-interest ratio is presently 0.3 days.

Comtech Telecommunications Stock Up 0.5%

Shares of CMTL opened at $2.11 on Thursday. The firm has a market cap of $63.22 million, a P/E ratio of -0.95 and a beta of 1.52. The stock has a 50 day simple moving average of $3.82 and a two-hundred day simple moving average of $4.44. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.61 and a quick ratio of 1.19. Comtech Telecommunications has a 1 year low of $1.80 and a 1 year high of $6.21.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Comtech Telecommunications from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Wall Street Zen cut Comtech Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Comtech Telecommunications presently has an average rating of “Reduce”.

Institutional Investors Weigh In On Comtech Telecommunications

A number of institutional investors have recently made changes to their positions in CMTL. Renaissance Technologies LLC grew its holdings in shares of Comtech Telecommunications by 153.9% during the 1st quarter. Renaissance Technologies LLC now owns 235,649 shares of the communications equipment provider’s stock valued at $782,000 after purchasing an additional 142,849 shares during the last quarter. Globeflex Capital L P purchased a new position in Comtech Telecommunications in the 1st quarter worth $654,000. Cetera Investment Advisers lifted its stake in Comtech Telecommunications by 80.6% in the first quarter. Cetera Investment Advisers now owns 40,962 shares of the communications equipment provider’s stock worth $136,000 after purchasing an additional 18,287 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in Comtech Telecommunications in the first quarter worth $236,000. Finally, Hsbc Holdings PLC boosted its position in Comtech Telecommunications by 17.0% during the first quarter. Hsbc Holdings PLC now owns 22,609 shares of the communications equipment provider’s stock valued at $72,000 after buying an additional 3,278 shares during the period.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.