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

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.89 and traded as high as $5.30. Comtech Telecommunications shares last traded at $5.10, with a volume of 170,313 shares trading hands.

Analysts Set New Price Targets

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

Comtech Telecommunications Trading Down 1.9%

The business has a 50 day simple moving average of $5.57 and a two-hundred day simple moving average of $3.89. 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 company has a market cap of $151.11 million, a PE ratio of -2.21 and a beta of 1.06.

Institutional Trading of Comtech Telecommunications

A number of hedge funds have recently added to or reduced their stakes in CMTL. Beartown Capital Management LLC acquired a new position in shares of Comtech Telecommunications during the 4th quarter valued at about $1,332,000. NewEdge Advisors LLC lifted its holdings in shares of Comtech Telecommunications by 175,873.3% during the 4th quarter. NewEdge Advisors LLC now owns 26,396 shares of the communications equipment provider’s stock worth $140,000 after acquiring an additional 26,381 shares during the period. Jump Financial LLC acquired a new stake in shares of Comtech Telecommunications in the fourth quarter worth approximately $299,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Comtech Telecommunications in the fourth quarter worth approximately $168,000. Finally, Squarepoint Ops LLC grew its holdings in Comtech Telecommunications by 351.0% in the fourth quarter. Squarepoint Ops LLC now owns 140,649 shares of the communications equipment provider’s stock valued at $744,000 after purchasing an additional 109,460 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.