Royce & Associates LP Acquires New Shares in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Royce & Associates LP acquired a new position in Comtech Telecommunications Corp. (NASDAQ:CMTL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 989,298 shares of the communications equipment provider’s stock, valued at approximately $4,759,000. Royce & Associates LP owned approximately 3.43% of Comtech Telecommunications at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CMTL. Covestor Ltd acquired a new position in shares of Comtech Telecommunications during the 3rd quarter valued at about $28,000. Point72 DIFC Ltd bought a new stake in Comtech Telecommunications during the second quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Comtech Telecommunications during the second quarter valued at approximately $174,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Comtech Telecommunications in the second quarter valued at approximately $31,000. Finally, Pacific Ridge Capital Partners LLC raised its position in shares of Comtech Telecommunications by 21.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock valued at $1,704,000 after purchasing an additional 100,577 shares during the period.

Comtech Telecommunications Trading Up 1.9 %

Comtech Telecommunications stock opened at $2.65 on Tuesday. Comtech Telecommunications Corp. has a 12 month low of $1.53 and a 12 month high of $12.51. The stock has a market cap of $76.51 million, a price-to-earnings ratio of -0.56 and a beta of 1.61. The business has a 50 day moving average price of $3.65 and a two-hundred day moving average price of $3.12. The company has a quick ratio of 1.33, a current ratio of 1.83 and a debt-to-equity ratio of 0.56.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. B. Riley dropped their price objective on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com raised Comtech Telecommunications to a “sell” rating in a research report on Tuesday, November 12th.

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.