Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Decreases By 36.5%

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 305,497 shares, a decline of 36.5% from the April 30th total of 480,769 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 177,005 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Investors Weigh In On Comtech Telecommunications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Comtech Telecommunications during the 1st quarter valued at about $59,000. Goldman Sachs Group Inc. raised its stake 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 valued at $71,000 after purchasing an additional 20,726 shares during the period. Cetera Investment Advisers lifted its position in shares of 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 purchasing an additional 5,192 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Comtech Telecommunications by 87.0% during the second quarter. JPMorgan Chase & Co. now owns 117,965 shares of the communications equipment provider’s stock worth $289,000 after purchasing an additional 54,879 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Comtech Telecommunications by 15.4% in the second quarter. Marshall Wace LLP now owns 269,932 shares of the communications equipment provider’s stock valued at $661,000 after purchasing an additional 36,069 shares during the period.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Comtech Telecommunications Stock Performance

Shares of NASDAQ CMTL opened at $5.80 on Wednesday. The company has a 50-day simple moving average of $3.93 and a 200-day simple moving average of $4.41. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.69 and a quick ratio of 1.23. The company has a market cap of $172.43 million, a PE ratio of -2.60 and a beta of 1.40. Comtech Telecommunications has a 12 month low of $1.71 and a 12 month high of $6.21.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings data on Monday, March 16th. The communications equipment provider reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Comtech Telecommunications had a return on equity of 50.25% and a net margin of 2.60%.The business had revenue of $106.76 million during the quarter, compared to the consensus estimate of $113.85 million. On average, equities analysts anticipate that Comtech Telecommunications will post -0.91 earnings per share for the current year.

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.