Comtech Telecommunications Corp. (NASDAQ:CMTL) Sees Significant Growth in Short Interest

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,010,000 shares, a growth of 16.1% from the November 15th total of 870,000 shares. Currently, 3.9% of the shares of the company are short sold. Based on an average daily volume of 457,600 shares, the short-interest ratio is currently 2.2 days.

Institutional Trading of Comtech Telecommunications

Several hedge funds and other institutional investors have recently made changes to their positions in CMTL. Covestor Ltd purchased a new stake in shares of Comtech Telecommunications in the third quarter valued at about $28,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Comtech Telecommunications in the second quarter valued at about $31,000. Point72 DIFC Ltd purchased a new stake in Comtech Telecommunications during the second quarter worth about $37,000. Summit Securities Group LLC purchased a new stake in Comtech Telecommunications during the second quarter worth about $82,000. Finally, 272 Capital LP purchased a new stake in Comtech Telecommunications during the third quarter worth about $94,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CMTL shares. StockNews.com raised shares of Comtech Telecommunications to a “sell” rating in a research report on Tuesday, November 12th. B. Riley lowered their price objective on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Comtech Telecommunications Stock Performance

Shares of NASDAQ:CMTL traded down $0.08 during midday trading on Monday, hitting $3.28. The stock had a trading volume of 214,710 shares, compared to its average volume of 946,425. The company has a market capitalization of $95.53 million, a PE ratio of -0.70 and a beta of 1.57. The stock has a 50 day moving average price of $3.47 and a two-hundred day moving average price of $3.30. The company has a current ratio of 1.83, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. Comtech Telecommunications has a 1 year low of $1.53 and a 1 year high of $8.71.

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.