Comtech Telecommunications (NASDAQ:CMTL) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.58 and traded as high as $3.14. Comtech Telecommunications shares last traded at $3.11, with a volume of 113,030 shares traded.

Wall Street Analyst Weigh In

CMTL has been the topic of a number of research reports. Wall Street Zen raised Comtech Telecommunications from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Comtech Telecommunications in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Comtech Telecommunications to a “hold” rating in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Comtech Telecommunications Stock Up 3.7%

The company has a market cap of $92.15 million, a price-to-earnings ratio of -1.35 and a beta of 1.15. The stock’s 50-day moving average is $3.11 and its 200-day moving average is $2.58. The company has a current ratio of 1.70, a quick ratio of 1.27 and a debt-to-equity ratio of 2.53.

Comtech Telecommunications (NASDAQ:CMTL) last issued its earnings results on Wednesday, June 21st. The communications equipment provider reported $0.25 EPS for the quarter. Comtech Telecommunications had a positive return on equity of 8.35% and a negative net margin of 4.60%.The business had revenue of $122.12 million during the quarter. On average, analysts anticipate that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comtech Telecommunications

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its holdings in Comtech Telecommunications by 1.8% during the third quarter. UBS Group AG now owns 236,937 shares of the communications equipment provider’s stock worth $611,000 after purchasing an additional 4,157 shares during the last quarter. Cetera Investment Advisers increased its holdings in Comtech Telecommunications by 25.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock worth $62,000 after acquiring an additional 5,192 shares during the last quarter. Mount Lucas Management LP raised its position in shares of Comtech Telecommunications by 7.4% in the third quarter. Mount Lucas Management LP now owns 107,400 shares of the communications equipment provider’s stock valued at $277,000 after purchasing an additional 7,400 shares during the period. MML Investors Services LLC raised its position in shares of Comtech Telecommunications by 4.4% in the second quarter. MML Investors Services LLC now owns 283,344 shares of the communications equipment provider’s stock valued at $694,000 after purchasing an additional 11,988 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in Comtech Telecommunications during the 3rd quarter worth about $39,000.

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.