Comtech Telecommunications (NASDAQ:CMTL) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Comtech Telecommunications Corp. (NASDAQ:CMTL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.30 and traded as high as $3.11. Comtech Telecommunications shares last traded at $3.04, with a volume of 204,152 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CMTL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Comtech Telecommunications in a research report on Wednesday, October 8th. Wall Street Zen raised Comtech Telecommunications from a “sell” rating to a “hold” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Comtech Telecommunications Price Performance

The company has a market capitalization of $89.36 million, a P/E ratio of -0.30 and a beta of 1.33. The firm’s 50-day moving average is $2.70 and its 200-day moving average is $2.30.

Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings results on Wednesday, June 21st. The communications equipment provider reported $0.25 earnings per share for the quarter. The business had revenue of $122.12 million for the quarter. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%. Comtech Telecommunications has set its FY 2023 guidance at EPS. As a group, analysts forecast that Comtech Telecommunications Corp. will post -2.38 EPS for the current fiscal year.

Institutional Trading of Comtech Telecommunications

A number of hedge funds and other institutional investors have recently bought and sold shares of CMTL. Covestor Ltd bought a new position in shares of Comtech Telecommunications in the third quarter worth about $53,000. Cetera Investment Advisers increased its holdings in Comtech Telecommunications by 25.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock worth $62,000 after acquiring an additional 5,192 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Comtech Telecommunications during the 1st quarter worth approximately $59,000. Goldman Sachs Group Inc. raised its stake in Comtech Telecommunications by 86.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock worth $71,000 after acquiring an additional 20,726 shares during the period. Finally, Mount Lucas Management LP purchased a new position in Comtech Telecommunications during the first quarter valued at approximately $80,000.

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.