Comtech Telecommunications Corp. (NASDAQ:CMTL) Sees Significant Growth in Short Interest

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 870,000 shares, an increase of 16.2% from the October 31st total of 748,600 shares. Based on an average daily volume of 434,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CMTL shares. B. Riley reduced their price target on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a research note on Tuesday, November 12th.

Comtech Telecommunications Price Performance

NASDAQ CMTL traded down $0.03 during mid-day trading on Tuesday, hitting $3.66. The company’s stock had a trading volume of 297,268 shares, compared to its average volume of 436,746. Comtech Telecommunications has a twelve month low of $1.53 and a twelve month high of $12.51. The company’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $3.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.83.

Hedge Funds Weigh In On Comtech Telecommunications

A number of large investors have recently bought and sold shares of CMTL. TCW Group Inc. acquired a new position in shares of Comtech Telecommunications in the third quarter worth $3,452,000. Geode Capital Management LLC lifted its holdings in shares of Comtech Telecommunications by 10.6% in the third quarter. Geode Capital Management LLC now owns 346,840 shares of the communications equipment provider’s stock valued at $1,669,000 after purchasing an additional 33,305 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Comtech Telecommunications by 39.5% during the 3rd quarter. MML Investors Services LLC now owns 176,128 shares of the communications equipment provider’s stock valued at $847,000 after purchasing an additional 49,861 shares in the last quarter. Penn Mutual Asset Management grew its position 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 purchasing an additional 128,000 shares during the last quarter. Finally, Needham Investment Management LLC increased its position in shares of Comtech Telecommunications by 17.8% during 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 in the last quarter.

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.