Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Rises By 28.9%

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,650,000 shares, a growth of 28.9% from the February 13th total of 1,280,000 shares. Approximately 5.8% of the company’s stock are short sold. Based on an average daily trading volume, of 569,000 shares, the short-interest ratio is presently 2.9 days.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Comtech Telecommunications to a “sell” rating in a research note on Thursday, January 2nd.

Institutional Trading of Comtech Telecommunications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP acquired a new stake in shares of Comtech Telecommunications in the third quarter worth $4,759,000. 272 Capital LP purchased a new position in shares of Comtech Telecommunications in the third quarter valued at approximately $94,000. B. Riley Financial Inc. acquired a new stake in Comtech Telecommunications during the 3rd quarter worth $155,000. Needham Investment Management LLC grew its stake in Comtech Telecommunications by 17.8% during the 3rd quarter. Needham Investment Management LLC now owns 1,502,500 shares of the communications equipment provider’s stock valued at $7,227,000 after acquiring an additional 227,500 shares in the last quarter. Finally, Penn Mutual Asset Management increased its holdings in shares of Comtech Telecommunications by 62.7% in the third quarter. Penn Mutual Asset Management now owns 332,004 shares of the communications equipment provider’s stock valued at $1,597,000 after purchasing an additional 128,000 shares during the last quarter.

Comtech Telecommunications Price Performance

Shares of CMTL opened at $1.93 on Wednesday. The business’s 50 day simple moving average is $2.26 and its 200-day simple moving average is $3.13. Comtech Telecommunications has a 1 year low of $1.53 and a 1 year high of $5.16. The stock has a market capitalization of $56.64 million, a price-to-earnings ratio of -0.20 and a beta of 1.55.

Comtech Telecommunications (NASDAQ:CMTL) last released its earnings results on Wednesday, March 12th. The communications equipment provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The business had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $117.00 million. Comtech Telecommunications had a negative return on equity of 8.76% and a negative net margin of 48.97%. On average, sell-side analysts expect that Comtech Telecommunications will post -2.38 earnings per share for the current year.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corp., together with its subsidiaries, engages in the provision of next-gen telecommunication solutions in the United States and internationally. The company’s Satellite and Space Communications segment offers satellite ground station technologies, services and system integration that facilitates the transmission of voice, video, and data over GEO, MEO and LEO satellite constellations, including solid-state and traveling wave tube power amplifiers, modems, VSAT platforms, and frequency converters; and satellite communications and tracking antenna systems, including high precision full motion fixed and mobile X/Y tracking antennas, RF feeds, reflectors, and radomes.