Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Down 6.8% in December

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 950,700 shares, a decrease of 6.8% from the December 15th total of 1,020,000 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average daily volume of 494,200 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On Comtech Telecommunications

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd purchased a new stake in Comtech Telecommunications in the third quarter worth about $28,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Comtech Telecommunications in the 2nd quarter valued at about $31,000. Point72 DIFC Ltd purchased a new stake in shares of Comtech Telecommunications in the 2nd quarter worth approximately $37,000. 272 Capital LP bought a new position in shares of Comtech Telecommunications during the third quarter valued at approximately $94,000. Finally, B. Riley Financial Inc. purchased a new position in Comtech Telecommunications during the third quarter valued at approximately $155,000.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. B. Riley dropped their target price on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com raised Comtech Telecommunications to a “sell” rating in a research note on Thursday, January 2nd.

Comtech Telecommunications Trading Down 1.1 %

CMTL stock traded down $0.03 during trading on Friday, hitting $2.63. The company had a trading volume of 355,597 shares, compared to its average volume of 606,960. The firm has a market capitalization of $76.72 million, a P/E ratio of -0.56 and a beta of 1.52. The company has a quick ratio of 1.33, a current ratio of 1.83 and a debt-to-equity ratio of 0.56. Comtech Telecommunications has a 52-week low of $1.53 and a 52-week high of $8.18. The company has a 50 day simple moving average of $3.43 and a 200-day simple moving average of $3.44.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings results on Monday, January 13th. The communications equipment provider reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.88). Comtech Telecommunications had a negative net margin of 18.50% and a positive return on equity of 2.38%. As a group, research analysts forecast that Comtech Telecommunications will post -0.53 earnings per share for the current fiscal year.

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.