Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Update

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a large growth in short interest in 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. Based on an average daily trading volume, of 569,000 shares, the short-interest ratio is currently 2.9 days. Currently, 5.8% of the shares of the stock are sold short.

Comtech Telecommunications Price Performance

Comtech Telecommunications stock traded down $0.09 during midday trading on Tuesday, reaching $2.00. The company had a trading volume of 87,411 shares, compared to its average volume of 985,072. Comtech Telecommunications has a 12-month low of $1.53 and a 12-month high of $5.16. The firm’s fifty day simple moving average is $2.30 and its 200-day simple moving average is $3.14. The company has a market capitalization of $58.55 million, a P/E ratio of -0.20 and a beta of 1.55.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in Comtech Telecommunications during the fourth quarter worth about $27,000. Bank of America Corp DE increased its holdings in shares of Comtech Telecommunications by 7.9% during the 4th quarter. Bank of America Corp DE now owns 109,194 shares of the communications equipment provider’s stock worth $438,000 after buying an additional 8,006 shares during the last quarter. Williams Jones Wealth Management LLC. purchased a new stake in shares of Comtech Telecommunications during the 4th quarter valued at approximately $40,000. Marshall Wace LLP acquired a new position in Comtech Telecommunications in the fourth quarter valued at approximately $44,000. Finally, Northern Trust Corp grew its position in Comtech Telecommunications by 13.8% in the fourth quarter. Northern Trust Corp now owns 91,225 shares of the communications equipment provider’s stock worth $366,000 after acquiring an additional 11,062 shares during the period.

Wall Street Analysts Forecast Growth

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

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.