Comtech Telecommunications Corp. (NASDAQ:CMTL) Sees Large Increase in Short Interest

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 616,738 shares, a growth of 84.7% from the September 30th total of 333,833 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 395,363 shares, the short-interest ratio is currently 1.6 days.

Hedge Funds Weigh In On Comtech Telecommunications

Institutional investors and hedge funds have recently bought and sold shares of the business. Vontobel Holding Ltd. bought a new stake in shares of Comtech Telecommunications during the third quarter valued at approximately $29,000. Hsbc Holdings PLC lifted its position in Comtech Telecommunications by 17.0% during the 1st quarter. Hsbc Holdings PLC now owns 22,609 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 3,278 shares during the period. Cetera Investment Advisers lifted its position in Comtech Telecommunications by 80.6% during the 1st quarter. Cetera Investment Advisers now owns 40,962 shares of the communications equipment provider’s stock valued at $136,000 after purchasing an additional 18,287 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Comtech Telecommunications by 61.7% in the 2nd quarter. Squarepoint Ops LLC now owns 63,649 shares of the communications equipment provider’s stock valued at $134,000 after purchasing an additional 24,295 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Comtech Telecommunications in the 1st quarter valued at about $236,000.

Comtech Telecommunications Stock Performance

Shares of NASDAQ CMTL traded down $0.03 during trading hours on Monday, hitting $1.24. 100,265 shares of the company’s stock were exchanged, compared to its average volume of 395,579. The company’s 50-day moving average price is $1.44 and its 200-day moving average price is $3.21. Comtech Telecommunications has a 1-year low of $1.14 and a 1-year high of $6.21. The stock has a market capitalization of $37.37 million, a price-to-earnings ratio of -0.54 and a beta of 1.72. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.84 and a quick ratio of 0.80.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CMTL. Northcoast Research assumed coverage on Comtech Telecommunications in a research report on Thursday, July 23rd. They set a “buy” rating and a $2.50 price objective for the company. Wall Street Zen raised shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. B. Riley Financial decreased their price target on shares of Comtech Telecommunications from $6.00 to $4.75 and set a “buy” rating for the company in a report on Thursday, October 15th. Finally, Weiss Ratings raised shares of Comtech Telecommunications from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.62.

About Comtech Telecommunications

Comtech Telecommunications Corp. (NASDAQ: CMTL) is a technology company that develops communications infrastructure and systems for government, defense, public safety, commercial, and wireless-network customers. Founded in 1967, the company provides solutions designed to support reliable connectivity in remote, mobile, and mission-critical environments.

Its product and service offerings include satellite and terrestrial communications systems, satellite modems, high-performance data links, troposcatter communications equipment, location-based technologies, and network-management solutions.