Comtech Telecommunications (NASDAQ:CMTL) Shares Pass Above 200 Day Moving Average – Here’s Why

Comtech Telecommunications Corp. (NASDAQ:CMTL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.18 and traded as high as $2.90. Comtech Telecommunications shares last traded at $2.88, with a volume of 139,608 shares changing hands.

Analyst Ratings Changes

Separately, B. Riley lowered their price target on Comtech Telecommunications from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, June 10th.

Comtech Telecommunications Stock Performance

The stock has a market capitalization of $84.66 million, a P/E ratio of -0.29 and a beta of 1.24. The stock has a 50 day moving average of $2.13 and a 200 day moving average of $2.18.

Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings data on Monday, June 9th. The communications equipment provider reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.08. The firm had revenue of $126.79 million during the quarter, compared to the consensus estimate of $124.12 million. Comtech Telecommunications had a negative return on equity of 15.38% and a negative net margin of 51.28%. On average, research analysts anticipate that Comtech Telecommunications Corp. will post -2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Comtech Telecommunications in the fourth quarter valued at $27,000. Bank of America Corp DE lifted its holdings in shares of Comtech Telecommunications by 7.9% in the fourth quarter. Bank of America Corp DE now owns 109,194 shares of the communications equipment provider’s stock valued at $438,000 after buying an additional 8,006 shares during the period. Williams Jones Wealth Management LLC. acquired a new stake in shares of Comtech Telecommunications in the fourth quarter valued at $40,000. Marshall Wace LLP acquired a new stake in shares of Comtech Telecommunications in the fourth quarter valued at $44,000. Finally, Northern Trust Corp lifted its holdings in shares of Comtech Telecommunications by 13.8% in the fourth quarter. Northern Trust Corp now owns 91,225 shares of the communications equipment provider’s stock valued at $366,000 after buying an additional 11,062 shares during the period.

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.