Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Grows By 6.7%

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,110,000 shares, a growth of 6.7% from the August 31st total of 1,040,000 shares. Based on an average daily trading volume, of 547,000 shares, the short-interest ratio is presently 2.0 days.

Comtech Telecommunications Trading Up 14.5 %

NASDAQ:CMTL traded up $0.61 during mid-day trading on Monday, hitting $4.81. The company had a trading volume of 1,040,991 shares, compared to its average volume of 1,103,780. The firm has a market cap of $137.05 million, a P/E ratio of -3.41, a P/E/G ratio of 1.60 and a beta of 1.58. Comtech Telecommunications has a fifty-two week low of $1.53 and a fifty-two week high of $13.04. The business’s fifty day moving average is $3.31 and its two-hundred day moving average is $2.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 1.78.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CMTL. B. Riley Wealth Advisors Inc. bought a new stake in shares of Comtech Telecommunications in the second quarter worth about $31,000. Point72 DIFC Ltd bought a new stake in Comtech Telecommunications during the 2nd quarter worth approximately $37,000. Oak Thistle LLC acquired a new stake in Comtech Telecommunications during the 1st quarter worth approximately $66,000. Virtu Financial LLC bought a new position in Comtech Telecommunications in the first quarter valued at approximately $81,000. Finally, Summit Securities Group LLC acquired a new position in shares of Comtech Telecommunications in the second quarter valued at approximately $82,000.

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.