Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Decreases By 6.8%

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CMTL shares. B. Riley decreased their price objective on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research report on Monday, November 4th. StockNews.com raised Comtech Telecommunications to a “sell” rating in a report on Thursday, January 2nd.

Institutional Investors Weigh In On Comtech Telecommunications

Large investors have recently made changes to their positions in the company. Covestor Ltd purchased a new position in Comtech Telecommunications during the 3rd quarter valued at approximately $28,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Comtech Telecommunications in the second quarter valued at $31,000. Point72 DIFC Ltd bought a new stake in Comtech Telecommunications in the second quarter worth $37,000. 272 Capital LP purchased a new stake in Comtech Telecommunications during the third quarter valued at $94,000. Finally, B. Riley Financial Inc. bought a new position in Comtech Telecommunications during the third quarter valued at $155,000.

Comtech Telecommunications Price Performance

CMTL traded down $0.03 during trading on Friday, reaching $2.63. 355,597 shares of the company traded hands, compared to its average volume of 606,960. The company has a market cap of $76.72 million, a P/E ratio of -0.56 and a beta of 1.52. 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 12-month low of $1.53 and a 12-month high of $8.18. The firm has a fifty day simple moving average of $3.43 and a 200 day simple moving average of $3.44.

Comtech Telecommunications (NASDAQ:CMTL) last posted its earnings results on Monday, January 13th. The communications equipment provider reported ($1.27) earnings per share for the quarter, missing the consensus estimate 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%. On average, equities analysts forecast that Comtech Telecommunications will post -0.53 EPS 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.