Comtech Telecommunications (NASDAQ:CMTL) Lowered to Sell Rating by Wall Street Zen

Comtech Telecommunications (NASDAQ:CMTL) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Comtech Telecommunications in a report on Tuesday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Comtech Telecommunications Price Performance

Shares of NASDAQ:CMTL opened at $2.40 on Friday. Comtech Telecommunications has a fifty-two week low of $1.80 and a fifty-two week high of $6.21. The business has a 50-day moving average of $4.09 and a two-hundred day moving average of $4.50. The stock has a market capitalization of $71.90 million, a P/E ratio of -1.09 and a beta of 1.40. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.61 and a quick ratio of 1.23.

Hedge Funds Weigh In On Comtech Telecommunications

A number of hedge funds have recently modified their holdings of CMTL. QVT Financial LP lifted its holdings in shares of Comtech Telecommunications by 41.4% during the fourth quarter. QVT Financial LP now owns 1,392,352 shares of the communications equipment provider’s stock valued at $6,997,000 after acquiring an additional 407,998 shares during the period. Potomac Capital Management Inc. bought a new stake in shares of Comtech Telecommunications during the fourth quarter valued at approximately $851,000. Royce & Associates LP grew its stake in shares of Comtech Telecommunications by 2.5% during the fourth quarter. Royce & Associates LP now owns 1,631,098 shares of the communications equipment provider’s stock valued at $8,629,000 after purchasing an additional 40,400 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Comtech Telecommunications by 87.0% in the second quarter. JPMorgan Chase & Co. now owns 117,965 shares of the communications equipment provider’s stock valued at $289,000 after purchasing an additional 54,879 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Comtech Telecommunications in the 3rd quarter worth approximately $80,000.

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.