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

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 870,000 shares, an increase of 16.2% from the October 31st total of 748,600 shares. Based on an average daily volume of 434,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Comtech Telecommunications

A number of hedge funds have recently bought and sold shares of CMTL. Covestor Ltd acquired a new position in shares of Comtech Telecommunications during the 3rd quarter worth approximately $28,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Comtech Telecommunications in the second quarter valued at approximately $31,000. Point72 DIFC Ltd acquired a new stake in Comtech Telecommunications during the second quarter worth approximately $37,000. 272 Capital LP acquired a new stake in Comtech Telecommunications during the third quarter worth approximately $94,000. Finally, Virtu Financial LLC bought a new position in Comtech Telecommunications during the 1st quarter worth $81,000.

Comtech Telecommunications Stock Performance

CMTL stock traded down $0.10 during trading hours on Friday, hitting $3.39. 221,287 shares of the stock were exchanged, compared to its average volume of 499,997. Comtech Telecommunications has a 12 month low of $1.53 and a 12 month high of $12.51. The company has a current ratio of 1.83, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $97.87 million, a P/E ratio of -0.72 and a beta of 1.61. The company has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $3.20.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMTL. B. Riley decreased their price target on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a report on Tuesday, November 12th.

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.