Short Interest in Comtech Telecommunications Corp. (NASDAQ:CMTL) Expands By 28.9%

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,650,000 shares, a growth of 28.9% from the February 13th total of 1,280,000 shares. Approximately 5.8% of the company’s stock are short sold. Based on an average daily volume of 569,000 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Trading of Comtech Telecommunications

Several institutional investors and hedge funds have recently bought and sold shares of CMTL. Cubist Systematic Strategies LLC purchased a new stake in Comtech Telecommunications during the fourth quarter worth $27,000. Williams Jones Wealth Management LLC. acquired a new position in shares of Comtech Telecommunications in the fourth quarter worth about $40,000. Marshall Wace LLP purchased a new stake in shares of Comtech Telecommunications during the 4th quarter worth about $44,000. Cetera Investment Advisers acquired a new stake in shares of Comtech Telecommunications during the 4th quarter valued at about $60,000. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Comtech Telecommunications in the 4th quarter valued at about $68,000.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Comtech Telecommunications to a “sell” rating in a research report on Thursday, January 2nd.

Comtech Telecommunications Stock Performance

NASDAQ:CMTL traded down $0.09 during mid-day trading on Tuesday, hitting $2.00. 87,411 shares of the company’s stock traded hands, compared to its average volume of 985,072. The company has a market capitalization of $58.55 million, a P/E ratio of -0.20 and a beta of 1.55. The company has a fifty day moving average of $2.30 and a 200 day moving average of $3.14. Comtech Telecommunications has a twelve month low of $1.53 and a twelve month high of $5.16.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings data on Wednesday, March 12th. The communications equipment provider reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The company had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $117.00 million. Comtech Telecommunications had a negative net margin of 48.97% and a negative return on equity of 8.76%. On average, research analysts expect that Comtech Telecommunications will post -2.38 earnings per share for the current fiscal year.

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.