Comtech Telecommunications (NASDAQ:CMTL) Stock Gets Price Target Cut from B. Riley Financial

Comtech Telecommunications (NASDAQ:CMTL) had its price target decreased by B. Riley Financial from $6.00 to $4.75 in a report published on Thursday,Benzinga reports. B. Riley Financial currently has a buy rating on the communications equipment provider’s stock.

A number of other analysts have also recently issued reports on CMTL. Weiss Ratings raised Comtech Telecommunications from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Wall Street Zen downgraded Comtech Telecommunications from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Finally, Northcoast Research started coverage on shares of Comtech Telecommunications in a research report on Thursday, July 23rd. They set a “buy” rating and a $2.50 price objective on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.62.

Comtech Telecommunications Stock Down 4.1%

Shares of Comtech Telecommunications stock opened at $1.39 on Thursday. The stock’s fifty day moving average is $1.52 and its 200-day moving average is $2.62. Comtech Telecommunications has a 12-month low of $1.15 and a 12-month high of $6.21. The company has a quick ratio of 1.19, a current ratio of 0.84 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $41.89 million, a PE ratio of -0.60 and a beta of 1.59.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CMTL. Renaissance Technologies LLC increased its position in shares of Comtech Telecommunications by 153.9% during the 1st quarter. Renaissance Technologies LLC now owns 235,649 shares of the communications equipment provider’s stock worth $782,000 after purchasing an additional 142,849 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of Comtech Telecommunications in the 1st quarter worth approximately $654,000. Hillsdale Investment Management Inc. acquired a new position in shares of Comtech Telecommunications in the 1st quarter worth approximately $236,000. Squarepoint Ops LLC boosted its holdings in shares of Comtech Telecommunications by 61.7% in the 2nd quarter. Squarepoint Ops LLC now owns 63,649 shares of the communications equipment provider’s stock worth $134,000 after acquiring an additional 24,295 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Comtech Telecommunications by 80.6% during the 1st quarter. Cetera Investment Advisers now owns 40,962 shares of the communications equipment provider’s stock worth $136,000 after acquiring an additional 18,287 shares during the last quarter.

About Comtech Telecommunications

Comtech Telecommunications Corp. (NASDAQ: CMTL) is a technology company that develops and supplies communications infrastructure and network solutions for government, defense, public safety, telecommunications, and enterprise customers. Its offerings are designed to support connectivity in locations where reliable, secure, or resilient communications are required.

The company’s products and services have included satellite modems and terminals, satellite ground systems, troposcatter and other wireless communications equipment, network management software, and location-based technologies.