Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Up 88.2% in June

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 422,928 shares, a growth of 88.2% from the June 15th total of 224,681 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 1,396,558 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Comtech Telecommunications

Hedge funds have recently added to or reduced their stakes in the business. QVT Financial LP raised its stake in Comtech Telecommunications by 41.4% during the 4th quarter. QVT Financial LP now owns 1,392,352 shares of the communications equipment provider’s stock valued at $6,997,000 after purchasing an additional 407,998 shares during the period. Marshall Wace LLP lifted its holdings in shares of Comtech Telecommunications by 91.4% in the fourth quarter. Marshall Wace LLP now owns 735,775 shares of the communications equipment provider’s stock valued at $3,892,000 after purchasing an additional 351,318 shares in the last quarter. Beartown Capital Management LLC acquired a new stake in shares of Comtech Telecommunications in the fourth quarter worth $1,332,000. Globeflex Capital L P purchased a new position in shares of Comtech Telecommunications during the first quarter valued at $654,000. Finally, Potomac Capital Management Inc. purchased a new position in shares of Comtech Telecommunications during the fourth quarter valued at $851,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMTL shares. Wall Street Zen raised Comtech Telecommunications from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings downgraded Comtech Telecommunications from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Comtech Telecommunications Trading Down 2.7%

Comtech Telecommunications stock opened at $1.61 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.61 and a debt-to-equity ratio of 4.02. The firm has a 50-day moving average price of $3.35 and a two-hundred day moving average price of $4.29. The firm has a market capitalization of $48.39 million, a price-to-earnings ratio of -0.73 and a beta of 1.51. Comtech Telecommunications has a 52-week low of $1.59 and a 52-week high of $6.21.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings results on Monday, June 15th. The communications equipment provider reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. The company had revenue of $106.00 million for the quarter, compared to analyst estimates of $110.20 million. Comtech Telecommunications had a negative net margin of 5.52% and a positive return on equity of 9.77%. Sell-side analysts expect that Comtech Telecommunications will post -0.9 earnings per share for the current year.

Comtech Telecommunications Company Profile

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.