Comtech Telecommunications (NASDAQ:CMTL) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.30 and traded as high as $3.11. Comtech Telecommunications shares last traded at $3.04, with a volume of 204,152 shares.

Wall Street Analysts Forecast Growth

CMTL has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Comtech Telecommunications in a report on Wednesday, October 8th. Wall Street Zen raised Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.

Comtech Telecommunications Price Performance

The firm’s 50 day moving average price is $2.70 and its 200-day moving average price is $2.31. The firm has a market cap of $89.36 million, a price-to-earnings ratio of -0.30 and a beta of 1.33.

Comtech Telecommunications (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, June 21st. The communications equipment provider reported $0.25 earnings per share for the quarter. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%. The firm had revenue of $122.12 million during the quarter. Comtech Telecommunications has set its FY 2023 guidance at EPS. Analysts expect that Comtech Telecommunications Corp. will post -2.38 EPS for the current year.

Institutional Trading of Comtech Telecommunications

Several institutional investors have recently modified their holdings of CMTL. Penserra Capital Management LLC raised its stake in shares of Comtech Telecommunications by 21.5% in the first quarter. Penserra Capital Management LLC now owns 64,590 shares of the communications equipment provider’s stock valued at $103,000 after purchasing an additional 11,451 shares in the last quarter. Mount Lucas Management LP bought a new stake in Comtech Telecommunications in the 1st quarter valued at $80,000. Royce & Associates LP increased its holdings in Comtech Telecommunications by 19.4% in the 1st quarter. Royce & Associates LP now owns 1,582,138 shares of the communications equipment provider’s stock valued at $2,531,000 after buying an additional 256,530 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in shares of Comtech Telecommunications by 7.5% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 494,174 shares of the communications equipment provider’s stock valued at $791,000 after buying an additional 34,544 shares in the last quarter. Finally, QVT Financial LP lifted its holdings in shares of Comtech Telecommunications by 16.5% during the 1st quarter. QVT Financial LP now owns 705,773 shares of the communications equipment provider’s stock worth $1,129,000 after acquiring an additional 100,000 shares during the period.

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.