Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Grows By 28.9%

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,650,000 shares, an increase of 28.9% from the February 13th total of 1,280,000 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 569,000 shares, the short-interest ratio is presently 2.9 days.

Institutional Investors Weigh In On Comtech Telecommunications

A number of large investors have recently added to or reduced their stakes in CMTL. Royce & Associates LP acquired a new stake in shares of Comtech Telecommunications during the third quarter worth approximately $4,759,000. 272 Capital LP bought a new stake in shares of Comtech Telecommunications in the 3rd quarter worth approximately $94,000. B. Riley Financial Inc. bought a new position in shares of Comtech Telecommunications during the third quarter worth about $155,000. Needham Investment Management LLC grew its position in Comtech Telecommunications by 17.8% in the 3rd quarter. Needham Investment Management LLC now owns 1,502,500 shares of the communications equipment provider’s stock worth $7,227,000 after purchasing an additional 227,500 shares during the last quarter. Finally, Penn Mutual Asset Management grew its holdings in Comtech Telecommunications by 62.7% in the 3rd quarter. Penn Mutual Asset Management now owns 332,004 shares of the communications equipment provider’s stock worth $1,597,000 after buying an additional 128,000 shares in the last quarter.

Comtech Telecommunications Trading Down 7.2 %

Shares of CMTL stock opened at $1.93 on Wednesday. The firm has a 50-day moving average price of $2.26 and a 200 day moving average price of $3.13. The company has a market capitalization of $56.64 million, a price-to-earnings ratio of -0.20 and a beta of 1.55. Comtech Telecommunications has a twelve month low of $1.53 and a twelve month high of $5.16.

Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings data on Wednesday, March 12th. The communications equipment provider reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The firm had revenue of $126.57 million for the quarter, compared to analyst estimates of $117.00 million. Comtech Telecommunications had a negative return on equity of 8.76% and a negative net margin of 48.97%. As a group, research analysts predict that Comtech Telecommunications will post -2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a research note on Thursday, January 2nd.

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.