Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Down 14.4% in October

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,070,000 shares, a drop of 14.4% from the September 30th total of 1,250,000 shares. Based on an average daily volume of 379,500 shares, the short-interest ratio is presently 2.8 days. Currently, 4.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Comtech Telecommunications

Several hedge funds have recently bought and sold shares of CMTL. Oak Thistle LLC purchased a new stake in shares of Comtech Telecommunications during the first quarter valued at $66,000. Wasatch Advisors LP bought a new position in Comtech Telecommunications in the 1st quarter worth about $2,651,000. GSA Capital Partners LLP increased its position in shares of Comtech Telecommunications by 34.0% during the first quarter. GSA Capital Partners LLP now owns 202,603 shares of the communications equipment provider’s stock worth $695,000 after acquiring an additional 51,438 shares during the period. Empowered Funds LLC boosted its holdings in shares of Comtech Telecommunications by 8.2% in the first quarter. Empowered Funds LLC now owns 76,370 shares of the communications equipment provider’s stock valued at $262,000 after purchasing an additional 5,765 shares during the period. Finally, Vanguard Group Inc. grew its stake in Comtech Telecommunications by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock worth $4,993,000 after purchasing an additional 10,111 shares in the last quarter.

Comtech Telecommunications Trading Up 0.9 %

CMTL opened at $3.84 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 1.78. The stock’s 50 day moving average price is $3.73 and its 200-day moving average price is $3.02. Comtech Telecommunications has a one year low of $1.53 and a one year high of $13.04. The stock has a market cap of $109.27 million, a price-to-earnings ratio of -2.72, a P/E/G ratio of 1.61 and a beta of 1.59.

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.