Comtech Telecommunications (NASDAQ:CMTL) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.32 and traded as high as $5.37. Comtech Telecommunications shares last traded at $5.15, with a volume of 458,002 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CMTL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Comtech Telecommunications in a report on Wednesday, January 21st. Zacks Research raised Comtech Telecommunications to a “hold” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Comtech Telecommunications Stock Down 2.6%

The stock’s fifty day simple moving average is $4.74 and its 200-day simple moving average is $3.32. The stock has a market cap of $152.59 million, a P/E ratio of -2.23 and a beta of 1.07. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.27 and a current ratio of 1.70.

Hedge Funds Weigh In On Comtech Telecommunications

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG raised its holdings in Comtech Telecommunications by 1.8% in the 3rd quarter. UBS Group AG now owns 236,937 shares of the communications equipment provider’s stock valued at $611,000 after acquiring an additional 4,157 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Comtech Telecommunications by 25.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock worth $62,000 after purchasing an additional 5,192 shares in the last quarter. Mount Lucas Management LP increased its position in shares of Comtech Telecommunications by 7.4% in the third quarter. Mount Lucas Management LP now owns 107,400 shares of the communications equipment provider’s stock worth $277,000 after purchasing an additional 7,400 shares during the period. MML Investors Services LLC increased its position in shares of Comtech Telecommunications by 4.4% in the second quarter. MML Investors Services LLC now owns 283,344 shares of the communications equipment provider’s stock worth $694,000 after purchasing an additional 11,988 shares during the period. Finally, Cresset Asset Management LLC acquired a new position in Comtech Telecommunications in the third quarter valued at about $39,000.

About Comtech Telecommunications

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.