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

Comtech Telecommunications Corp. (NASDAQ:CMTL) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.20 and traded as high as $6.16. Comtech Telecommunications shares last traded at $5.88, with a volume of 345,300 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMTL. Weiss Ratings reissued a “sell (d-)” rating on shares of Comtech Telecommunications in a report on Wednesday, January 21st. Zacks Research upgraded shares of Comtech Telecommunications to a “hold” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Comtech Telecommunications currently has an average rating of “Hold” and an average target price of $6.00.

Comtech Telecommunications Stock Performance

The company has a current ratio of 1.70, a quick ratio of 1.27 and a debt-to-equity ratio of 2.53. The company has a market cap of $174.22 million, a P/E ratio of -2.55 and a beta of 1.06. The company has a 50 day moving average price of $4.43 and a 200-day moving average price of $3.20.

Institutional Investors Weigh In On Comtech Telecommunications

A number of hedge funds have recently made changes to their positions in CMTL. Cresset Asset Management LLC bought a new stake in shares of Comtech Telecommunications during the 3rd quarter valued at approximately $39,000. Covestor Ltd acquired a new stake in Comtech Telecommunications in the third quarter valued at approximately $53,000. Cetera Investment Advisers boosted its position in Comtech Telecommunications by 25.9% in the second quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after buying an additional 5,192 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Comtech Telecommunications during the third quarter worth $80,000. Finally, Franklin Resources Inc. acquired a new position in shares of Comtech Telecommunications during the third quarter worth $91,000.

About Comtech Telecommunications

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.