COMSovereign (NASDAQ:COMS) Stock Price Down 8.8%

COMSovereign Holding Corp. (NASDAQ:COMS)’s share price was down 8.8% during trading on Wednesday . The company traded as low as $0.16 and last traded at $0.16. Approximately 1,730 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 23,609 shares. The stock had previously closed at $0.18.

Analysts Set New Price Targets

Separately, ThinkEquity started coverage on COMSovereign in a report on Monday, January 22nd. They set a “buy” rating and a $3.00 target price on the stock.

COMSovereign Trading Down 8.8 %

The firm has a fifty day moving average of $0.38 and a 200 day moving average of $0.79.

COMSovereign (NASDAQ:COMS) last announced its earnings results on Tuesday, January 9th. The company reported ($0.60) EPS for the quarter. The company had revenue of $0.25 million during the quarter.

Institutional Investors Weigh In On COMSovereign

A hedge fund recently bought a new stake in COMSovereign stock. Virtu Financial LLC acquired a new position in shares of COMSovereign Holding Corp. (NASDAQ:COMS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 193,227 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.27% of COMSovereign as of its most recent SEC filing. Institutional investors and hedge funds own 6.93% of the company’s stock.

COMSovereign Company Profile

COMSovereign Holding Corp. provides various solutions for network operators, mobile device carriers, governmental units, and other enterprises worldwide. The company offers packet microwave solutions that transmit broadband voice, video, and data, as well as enable service providers, government agencies, enterprises, and other organizations; harmony enhanced MC; fastback intelligent backhaul radio (IBR); and in-band full-duplex technology.