Comtech Telecommunications (NASDAQ:CMTL) Stock Price Crosses Above 200-Day Moving Average of $3.00

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.00 and traded as high as $3.51. Comtech Telecommunications shares last traded at $3.44, with a volume of 189,692 shares traded.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upgraded Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 target price for the company in a research note on Tuesday, June 25th.

Comtech Telecommunications Price Performance

The company’s 50 day simple moving average is $3.16 and its 200 day simple moving average is $3.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.78 and a quick ratio of 1.28. The stock has a market cap of $98.02 million, a P/E ratio of -2.44, a P/E/G ratio of 1.17 and a beta of 1.58.

Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings data on Tuesday, June 18th. The communications equipment provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.01 by $0.18. The business had revenue of $128.08 million for the quarter, compared to the consensus estimate of $136.42 million. Comtech Telecommunications had a positive return on equity of 3.70% and a negative net margin of 2.26%. As a group, equities analysts forecast that Comtech Telecommunications Corp. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Comtech Telecommunications

Hedge funds have recently modified their holdings of the business. Archon Capital Management LLC grew its position in shares of Comtech Telecommunications by 15.4% in the 1st quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock valued at $5,678,000 after purchasing an additional 221,380 shares during the period. Vanguard Group Inc. increased its position in shares of Comtech Telecommunications by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock worth $4,993,000 after acquiring an additional 10,111 shares in the last quarter. Invenomic Capital Management LP raised its holdings in shares of Comtech Telecommunications by 369.1% during the first quarter. Invenomic Capital Management LP now owns 886,135 shares of the communications equipment provider’s stock worth $3,039,000 after acquiring an additional 697,248 shares during the period. Wasatch Advisors LP bought a new stake in Comtech Telecommunications in the 1st quarter valued at $2,651,000. Finally, Pacific Ridge Capital Partners LLC boosted its stake in Comtech Telecommunications by 21.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock worth $1,704,000 after purchasing an additional 100,577 shares during the period.

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.