B. Riley Issues Pessimistic Forecast for Comtech Telecommunications (NASDAQ:CMTL) Stock Price

Comtech Telecommunications (NASDAQ:CMTL) had its price target reduced by B. Riley from $12.25 to $9.25 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Comtech Telecommunications Price Performance

Comtech Telecommunications stock opened at $2.79 on Monday. The business has a 50 day simple moving average of $3.71 and a 200 day simple moving average of $3.07. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 1.33. The company has a market capitalization of $80.55 million, a PE ratio of -0.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.61. Comtech Telecommunications has a one year low of $1.53 and a one year high of $12.80.

Institutional Investors Weigh In On Comtech Telecommunications

Several large investors have recently made changes to their positions in CMTL. Empowered Funds LLC boosted its position in Comtech Telecommunications by 8.2% in the first quarter. Empowered Funds LLC now owns 76,370 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 5,765 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Comtech Telecommunications by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock valued at $4,993,000 after acquiring an additional 10,111 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Comtech Telecommunications in the 2nd quarter worth approximately $174,000. Virtu Financial LLC bought a new stake in Comtech Telecommunications during the 1st quarter worth approximately $81,000. Finally, AQR Capital Management LLC increased its holdings in Comtech Telecommunications by 90.4% during the 2nd quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider’s stock valued at $629,000 after purchasing an additional 98,479 shares in the last quarter.

Comtech Telecommunications Company Profile

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.