Comtech Telecommunications (NASDAQ:CMTL) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Comtech Telecommunications Corp. (NASDAQ:CMTL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.07 and traded as high as $6.10. Comtech Telecommunications shares last traded at $5.68, with a volume of 367,751 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CMTL shares. Zacks Research upgraded Comtech Telecommunications to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Comtech Telecommunications in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

Comtech Telecommunications Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.70 and a debt-to-equity ratio of 2.53. The company has a 50 day simple moving average of $4.12 and a 200-day simple moving average of $3.07. The stock has a market cap of $168.30 million, a price-to-earnings ratio of -2.46 and a beta of 1.06.

Hedge Funds Weigh In On Comtech Telecommunications

A number of hedge funds have recently added to or reduced their stakes in the business. Cresset Asset Management LLC acquired a new stake in shares of Comtech Telecommunications during the third quarter worth $39,000. Covestor Ltd bought a new stake in shares of Comtech Telecommunications during the 3rd quarter valued at about $53,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Comtech Telecommunications during the 1st quarter valued at about $59,000. Cetera Investment Advisers raised its stake in Comtech Telecommunications by 25.9% during the second 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 period. Finally, Goldman Sachs Group Inc. lifted its holdings in Comtech Telecommunications by 86.8% in the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock worth $71,000 after acquiring an additional 20,726 shares during the last quarter.

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.