Geode Capital Management LLC Buys 33,305 Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL)

Geode Capital Management LLC boosted its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 346,840 shares of the communications equipment provider’s stock after buying an additional 33,305 shares during the quarter. Geode Capital Management LLC owned approximately 1.20% of Comtech Telecommunications worth $1,669,000 as of its most recent SEC filing.

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

Comtech Telecommunications Stock Down 6.3 %

Shares of NASDAQ:CMTL opened at $3.89 on Thursday. The company has a 50 day moving average price of $3.40 and a two-hundred day moving average price of $3.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.83. The company has a market capitalization of $113.30 million, a PE ratio of -0.83 and a beta of 1.52. Comtech Telecommunications Corp. has a 52 week low of $1.53 and a 52 week high of $8.29.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CMTL. StockNews.com raised Comtech Telecommunications to a “sell” rating in a research note on Thursday, January 2nd. B. Riley reduced their target price on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a report on Monday, November 4th.

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.