Comtech Telecommunications (NASDAQ:CMTL) Raised to Hold at Wall Street Zen

Comtech Telecommunications (NASDAQ:CMTL) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, B. Riley lowered their price target on shares of Comtech Telecommunications from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, June 10th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $6.00.

Comtech Telecommunications Trading Up 6.2%

Shares of CMTL stock opened at $2.22 on Friday. The company’s fifty day simple moving average is $2.24 and its 200-day simple moving average is $1.96. Comtech Telecommunications has a 52 week low of $1.19 and a 52 week high of $5.16. The company has a market cap of $65.27 million, a PE ratio of -0.22 and a beta of 1.27.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CMTL. Needham Investment Management LLC lifted its position in shares of Comtech Telecommunications by 18.5% in the 4th quarter. Needham Investment Management LLC now owns 1,780,000 shares of the communications equipment provider’s stock worth $7,138,000 after buying an additional 277,500 shares during the last quarter. Royce & Associates LP lifted its position in shares of Comtech Telecommunications by 19.4% in the 1st quarter. Royce & Associates LP now owns 1,582,138 shares of the communications equipment provider’s stock worth $2,531,000 after buying an additional 256,530 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Comtech Telecommunications by 12.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,339,842 shares of the communications equipment provider’s stock worth $5,373,000 after buying an additional 143,225 shares during the last quarter. QVT Financial LP lifted its position in shares of Comtech Telecommunications by 39.5% in the 2nd quarter. QVT Financial LP now owns 984,354 shares of the communications equipment provider’s stock worth $2,412,000 after buying an additional 278,581 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its position in shares of Comtech Telecommunications by 7.5% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 494,174 shares of the communications equipment provider’s stock worth $791,000 after buying an additional 34,544 shares during the last quarter.

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.