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

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

Analyst Ratings Changes

Several research analysts have issued reports on CMTL shares. StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a report on Tuesday, November 12th. B. Riley cut 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.

Institutional Investors Weigh In On Comtech Telecommunications

Several large investors have recently modified their holdings of the stock. TCW Group Inc. purchased a new stake in Comtech Telecommunications in the 3rd quarter worth about $3,452,000. Geode Capital Management LLC increased its stake in shares of Comtech Telecommunications by 10.6% in the third quarter. Geode Capital Management LLC now owns 346,840 shares of the communications equipment provider’s stock worth $1,669,000 after purchasing an additional 33,305 shares in the last quarter. MML Investors Services LLC raised its position in shares of Comtech Telecommunications by 39.5% in the third quarter. MML Investors Services LLC now owns 176,128 shares of the communications equipment provider’s stock valued at $847,000 after purchasing an additional 49,861 shares during the period. Penn Mutual Asset Management lifted its stake in shares of Comtech Telecommunications by 62.7% during the 3rd quarter. Penn Mutual Asset Management now owns 332,004 shares of the communications equipment provider’s stock valued at $1,597,000 after buying an additional 128,000 shares in the last quarter. Finally, Needham Investment Management LLC boosted its holdings in Comtech Telecommunications by 17.8% in the 3rd quarter. Needham Investment Management LLC now owns 1,502,500 shares of the communications equipment provider’s stock worth $7,227,000 after buying an additional 227,500 shares during the period.

Comtech Telecommunications Price Performance

Shares of CMTL traded down $0.03 on Tuesday, reaching $3.66. 297,268 shares of the company’s stock traded hands, compared to its average volume of 436,746. The stock’s 50 day simple moving average is $3.63 and its two-hundred day simple moving average is $3.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.83. Comtech Telecommunications has a 52-week low of $1.53 and a 52-week high of $12.51.

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.