Comtech Telecommunications (NASDAQ:CMTL) Share Price Passes Above 200-Day Moving Average – What’s Next?

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.47 and traded as high as $3.11. Comtech Telecommunications shares last traded at $3.0250, with a volume of 94,473 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CMTL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Comtech Telecommunications in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Comtech Telecommunications to a “hold” rating in a research report on Wednesday, November 19th. Finally, Wall Street Zen upgraded Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Comtech Telecommunications Stock Down 0.2%

The business’s fifty day moving average price is $2.95 and its 200 day moving average price is $2.47. The firm has a market capitalization of $89.57 million, a PE ratio of -0.30 and a beta of 1.33.

Comtech Telecommunications (NASDAQ:CMTL) last announced its earnings results on Wednesday, June 21st. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $122.12 million for the quarter. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%. Comtech Telecommunications has set its FY 2023 guidance at EPS. As a group, sell-side analysts forecast that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current fiscal year.

Institutional Trading of Comtech Telecommunications

Hedge funds have recently added to or reduced their stakes in the business. Pacific Ridge Capital Partners LLC increased its stake in shares of Comtech Telecommunications by 7.5% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 494,174 shares of the communications equipment provider’s stock valued at $791,000 after acquiring an additional 34,544 shares during the last quarter. QVT Financial LP grew its holdings in Comtech Telecommunications by 16.5% in the first quarter. QVT Financial LP now owns 705,773 shares of the communications equipment provider’s stock valued at $1,129,000 after purchasing an additional 100,000 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Comtech Telecommunications during the first quarter worth approximately $59,000. Goldman Sachs Group Inc. raised its stake in Comtech Telecommunications by 86.8% during the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock worth $71,000 after purchasing an additional 20,726 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of Comtech Telecommunications by 25.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after purchasing an additional 5,192 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.