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

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 224,681 shares, a drop of 35.1% from the May 31st total of 346,164 shares. Based on an average daily volume of 780,968 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On Comtech Telecommunications

A number of institutional investors have recently added to or reduced their stakes in CMTL. QVT Financial LP boosted its position in shares of Comtech Telecommunications by 41.4% during the 4th quarter. QVT Financial LP now owns 1,392,352 shares of the communications equipment provider’s stock valued at $6,997,000 after acquiring an additional 407,998 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Comtech Telecommunications by 91.4% during the fourth quarter. Marshall Wace LLP now owns 735,775 shares of the communications equipment provider’s stock worth $3,892,000 after purchasing an additional 351,318 shares in the last quarter. Beartown Capital Management LLC bought a new position in shares of Comtech Telecommunications in the fourth quarter worth approximately $1,332,000. Globeflex Capital L P bought a new position in shares of Comtech Telecommunications in the first quarter worth approximately $654,000. Finally, Potomac Capital Management Inc. purchased a new stake in Comtech Telecommunications in the fourth quarter valued at approximately $851,000.

Comtech Telecommunications Trading Up 0.5%

Comtech Telecommunications stock opened at $2.11 on Thursday. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.19 and a current ratio of 1.61. Comtech Telecommunications has a fifty-two week low of $1.80 and a fifty-two week high of $6.21. The stock has a market cap of $63.22 million, a P/E ratio of -0.95 and a beta of 1.52. The firm’s fifty day moving average price is $3.82 and its 200-day moving average price is $4.44.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CMTL shares. Weiss Ratings cut Comtech Telecommunications from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen lowered shares of Comtech Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

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.