Comtech Telecommunications (NASDAQ:CMTL) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.41 and traded as high as $4.22. Comtech Telecommunications shares last traded at $4.01, with a volume of 294,855 shares traded.

Wall Street Analyst Weigh In

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

Comtech Telecommunications Price Performance

The firm has a market capitalization of $119.12 million, a price-to-earnings ratio of -0.87 and a beta of 1.57. The stock’s fifty day moving average price is $3.37 and its two-hundred day moving average price is $3.42. The company has a current ratio of 1.83, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56.

Institutional Investors Weigh In On Comtech Telecommunications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd purchased a new stake in shares of Comtech Telecommunications during the 3rd quarter worth approximately $28,000. B. Riley Wealth Advisors Inc. purchased a new stake in Comtech Telecommunications in the second quarter valued at $31,000. Point72 DIFC Ltd acquired a new position in Comtech Telecommunications in the second quarter valued at $37,000. 272 Capital LP acquired a new stake in shares of Comtech Telecommunications during the third quarter worth about $94,000. Finally, B. Riley Financial Inc. purchased a new stake in shares of Comtech Telecommunications in the 3rd quarter valued at about $155,000.

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.