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

Comtech Telecommunications Corp. (NASDAQ:CMTL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.93 and traded as high as $5.66. Comtech Telecommunications shares last traded at $5.52, with a volume of 350,728 shares traded.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Comtech Telecommunications in a research report on Wednesday, October 8th. Zacks Research raised shares of Comtech Telecommunications to a “hold” rating in a research note on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.

Comtech Telecommunications Stock Up 0.9%

The stock has a market capitalization of $163.56 million, a price-to-earnings ratio of -2.39 and a beta of 1.06. The business has a 50-day moving average of $3.78 and a 200-day moving average of $2.93. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.27 and a current ratio of 1.70.

Hedge Funds Weigh In On Comtech Telecommunications

Several large investors have recently made changes to their positions in the stock. QVT Financial LP increased its holdings in Comtech Telecommunications by 39.5% in the 2nd quarter. QVT Financial LP now owns 984,354 shares of the communications equipment provider’s stock valued at $2,412,000 after purchasing an additional 278,581 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Comtech Telecommunications by 71.4% during the third quarter. Two Sigma Investments LP now owns 256,607 shares of the communications equipment provider’s stock worth $662,000 after buying an additional 106,866 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Comtech Telecommunications by 87.0% in the second quarter. JPMorgan Chase & Co. now owns 117,965 shares of the communications equipment provider’s stock valued at $289,000 after buying an additional 54,879 shares in the last quarter. Mount Lucas Management LP raised its holdings in shares of Comtech Telecommunications by 100.0% in the 2nd quarter. Mount Lucas Management LP now owns 100,000 shares of the communications equipment provider’s stock valued at $245,000 after buying an additional 50,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Comtech Telecommunications during the 1st quarter worth about $59,000.

Comtech Telecommunications Company Profile

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.