Royce & Associates LP Makes New Investment in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Royce & Associates LP acquired a new stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) during the third quarter, Holdings Channel reports. The firm acquired 989,298 shares of the communications equipment provider’s stock, valued at approximately $4,759,000.

Other large investors also recently modified their holdings of the company. Covestor Ltd acquired a new stake in Comtech Telecommunications in the 3rd quarter valued at $28,000. Point72 DIFC Ltd bought a new position in shares of Comtech Telecommunications during the second quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Comtech Telecommunications in the 2nd quarter worth about $174,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Comtech Telecommunications during the 2nd quarter worth about $31,000. Finally, Pacific Ridge Capital Partners LLC boosted its position in Comtech Telecommunications by 21.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock valued at $1,704,000 after buying an additional 100,577 shares in the last quarter.

Comtech Telecommunications Stock Up 1.9 %

Shares of CMTL opened at $2.65 on Tuesday. The business’s fifty day moving average price is $3.65 and its two-hundred day moving average price is $3.12. The firm has a market capitalization of $76.51 million, a price-to-earnings ratio of -0.56 and a beta of 1.61. Comtech Telecommunications Corp. has a 52 week low of $1.53 and a 52 week high of $12.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.83.

Analyst Ratings Changes

CMTL has been the topic of several research analyst reports. B. Riley decreased their target price on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded shares of Comtech Telecommunications to a “sell” rating in a research report on Tuesday, November 12th.

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.