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

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

Separately, Weiss Ratings lowered shares of Comtech Telecommunications from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 30th. One investment 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, Comtech Telecommunications currently has a consensus rating of “Reduce”.

Comtech Telecommunications Stock Performance

Shares of NASDAQ:CMTL opened at $1.61 on Monday. The business’s 50-day moving average is $3.35 and its 200 day moving average is $4.28. Comtech Telecommunications has a 1 year low of $1.59 and a 1 year high of $6.21. The firm has a market capitalization of $48.39 million, a P/E ratio of -0.73 and a beta of 1.51. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.61 and a quick ratio of 1.19.

Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings results on Monday, June 15th. The communications equipment provider reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. The business had revenue of $106.00 million during the quarter, compared to the consensus estimate of $110.20 million. Comtech Telecommunications had a positive return on equity of 9.77% and a negative net margin of 5.52%. On average, research analysts predict that Comtech Telecommunications will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Comtech Telecommunications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in Comtech Telecommunications during the 4th quarter worth about $26,000. Cresset Asset Management LLC acquired a new position in shares of Comtech Telecommunications in the third quarter valued at about $39,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Comtech Telecommunications in the first quarter worth about $59,000. Cetera Investment Advisers raised its stake in shares of Comtech Telecommunications by 25.9% in the second quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock worth $62,000 after purchasing an additional 5,192 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Comtech Telecommunications by 86.8% during the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock worth $71,000 after purchasing an additional 20,726 shares during the period.

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.