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

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.63 and traded as high as $5.55. Comtech Telecommunications shares last traded at $5.41, with a volume of 117,229 shares trading hands.

Analyst Ratings Changes

Several analysts recently weighed in on CMTL shares. Zacks Research upgraded Comtech Telecommunications to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Comtech Telecommunications in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Comtech Telecommunications currently has an average rating of “Hold” and an average target price of $6.00.

Comtech Telecommunications Price Performance

The stock has a 50 day moving average of $5.33 and a 200-day moving average of $3.63. The company has a current ratio of 1.70, a quick ratio of 1.27 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $160.30 million, a P/E ratio of -2.34 and a beta of 1.07.

Hedge Funds Weigh In On Comtech Telecommunications

Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in shares of Comtech Telecommunications by 2.5% during the fourth quarter. Royce & Associates LP now owns 1,631,098 shares of the communications equipment provider’s stock worth $8,629,000 after acquiring an additional 40,400 shares during the period. QVT Financial LP grew its stake in Comtech Telecommunications by 41.4% in the fourth quarter. QVT Financial LP now owns 1,392,352 shares of the communications equipment provider’s stock worth $6,997,000 after purchasing an additional 407,998 shares in the last quarter. Marshall Wace LLP increased its holdings in Comtech Telecommunications by 91.4% during the 4th quarter. Marshall Wace LLP now owns 735,775 shares of the communications equipment provider’s stock worth $3,892,000 after purchasing an additional 351,318 shares during the period. MML Investors Services LLC raised its position in Comtech Telecommunications by 28.0% during the 4th quarter. MML Investors Services LLC now owns 410,596 shares of the communications equipment provider’s stock valued at $2,172,000 after purchasing an additional 89,755 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Comtech Telecommunications by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 338,589 shares of the communications equipment provider’s stock worth $1,792,000 after buying an additional 3,411 shares during the period.

About Comtech Telecommunications

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.