Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Expands By 16.1%

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,010,000 shares, an increase of 16.1% from the November 15th total of 870,000 shares. Based on an average daily volume of 457,600 shares, the days-to-cover ratio is presently 2.2 days. Approximately 3.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. 272 Capital LP acquired a new position in shares of Comtech Telecommunications in the 3rd quarter valued at $94,000. TCW Group Inc. purchased a new position in shares of Comtech Telecommunications during the third quarter worth about $3,452,000. Geode Capital Management LLC increased its position in shares of Comtech Telecommunications by 10.6% during the third quarter. Geode Capital Management LLC now owns 346,840 shares of the communications equipment provider’s stock worth $1,669,000 after purchasing an additional 33,305 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Comtech Telecommunications by 39.5% in the 3rd quarter. MML Investors Services LLC now owns 176,128 shares of the communications equipment provider’s stock valued at $847,000 after purchasing an additional 49,861 shares during the last quarter. Finally, Penn Mutual Asset Management boosted its position in shares of Comtech Telecommunications by 62.7% in the 3rd 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 period.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CMTL. StockNews.com raised shares of Comtech Telecommunications to a “sell” rating in a research note on Tuesday, November 12th. B. Riley cut their price objective on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Comtech Telecommunications Stock Down 2.4 %

Shares of CMTL traded down $0.08 during midday trading on Monday, hitting $3.28. The company had a trading volume of 198,352 shares, compared to its average volume of 946,400. The company’s 50-day simple moving average is $3.47 and its 200-day simple moving average is $3.30. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.83. Comtech Telecommunications has a 1 year low of $1.53 and a 1 year high of $8.71. The firm has a market capitalization of $95.53 million, a P/E ratio of -0.71 and a beta of 1.57.

About Comtech Telecommunications

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.