Comtech Telecommunications (NASDAQ:CMTL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.98 and traded as high as $2.48. Comtech Telecommunications shares last traded at $2.44, with a volume of 140,110 shares trading hands.

Analysts Set New Price Targets

CMTL has been the subject of several recent research reports. Wall Street Zen upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. B. Riley dropped their target price on shares of Comtech Telecommunications from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.00.

Comtech Telecommunications Stock Performance

The stock’s 50-day moving average is $2.22 and its 200 day moving average is $1.98. The firm has a market cap of $71.74 million, a P/E ratio of -0.24 and a beta of 1.27.

Hedge Funds Weigh In On Comtech Telecommunications

A number of large investors have recently added to or reduced their stakes in CMTL. Cubist Systematic Strategies LLC bought a new position in Comtech Telecommunications during the 4th quarter worth about $27,000. Williams Jones Wealth Management LLC. bought a new position in Comtech Telecommunications during the 4th quarter worth about $40,000. Dynamic Technology Lab Private Ltd bought a new position in Comtech Telecommunications during the 1st quarter worth about $59,000. Cetera Investment Advisers acquired a new position in shares of Comtech Telecommunications during the 4th quarter worth about $60,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Comtech Telecommunications by 86.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock worth $71,000 after buying an additional 20,726 shares during the last quarter.

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.