Comtech Telecommunications Corp. (NASDAQ:CMTL) Shares Shorted: Short Interest Up 84.7% in October

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 616,738 shares, a growth of 84.7% from the September 30th total of 333,833 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily volume of 395,363 shares, the short-interest ratio is presently 1.6 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on CMTL. Wall Street Zen raised Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings upgraded Comtech Telecommunications from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. B. Riley Financial lowered their price target on Comtech Telecommunications from $6.00 to $4.75 and set a “buy” rating for the company in a research report on Thursday, October 15th. Finally, Northcoast Research started coverage on shares of Comtech Telecommunications in a research report on Thursday, July 23rd. They set a “buy” rating and a $2.50 price objective on the stock. Two equities research analysts have 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.62.

Institutional Trading of Comtech Telecommunications

Hedge funds and other institutional investors have recently modified their holdings of the business. Vontobel Holding Ltd. purchased a new position in Comtech Telecommunications in the 3rd quarter valued at approximately $29,000. Squarepoint Ops LLC lifted its position in Comtech Telecommunications by 61.7% in the second quarter. Squarepoint Ops LLC now owns 63,649 shares of the communications equipment provider’s stock valued at $134,000 after purchasing an additional 24,295 shares during the period. Globeflex Capital L P acquired a new position in Comtech Telecommunications during the second quarter worth about $269,000. Renaissance Technologies LLC grew its stake in Comtech Telecommunications by 153.9% in the 1st quarter. Renaissance Technologies LLC now owns 235,649 shares of the communications equipment provider’s stock valued at $782,000 after acquiring an additional 142,849 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Comtech Telecommunications by 80.6% in the 1st quarter. Cetera Investment Advisers now owns 40,962 shares of the communications equipment provider’s stock valued at $136,000 after buying an additional 18,287 shares in the last quarter.

Comtech Telecommunications Stock Performance

Comtech Telecommunications stock opened at $1.27 on Friday. The company has a market capitalization of $38.28 million, a PE ratio of -0.55 and a beta of 1.59. Comtech Telecommunications has a fifty-two week low of $1.14 and a fifty-two week high of $6.21. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.80 and a current ratio of 0.84. The company has a 50 day moving average price of $1.44 and a 200-day moving average price of $3.21.

About Comtech Telecommunications

Comtech Telecommunications Corp. (NASDAQ: CMTL) is a technology company that develops communications infrastructure and systems for government, defense, public safety, commercial, and wireless-network customers. Founded in 1967, the company provides solutions designed to support reliable connectivity in remote, mobile, and mission-critical environments.

Its product and service offerings include satellite and terrestrial communications systems, satellite modems, high-performance data links, troposcatter communications equipment, location-based technologies, and network-management solutions.