Potomac Capital Management Inc. Makes New Investment in Comtech Telecommunications Corp. $CMTL

Potomac Capital Management Inc. bought a new position in Comtech Telecommunications Corp. (NASDAQ:CMTL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 160,912 shares of the communications equipment provider’s stock, valued at approximately $851,000. Potomac Capital Management Inc. owned 0.54% of Comtech Telecommunications as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royce & Associates LP increased its stake in Comtech Telecommunications by 2.5% in the fourth quarter. Royce & Associates LP now owns 1,631,098 shares of the communications equipment provider’s stock worth $8,629,000 after purchasing an additional 40,400 shares during the period. QVT Financial LP increased its stake in Comtech Telecommunications by 39.5% in the second quarter. QVT Financial LP now owns 984,354 shares of the communications equipment provider’s stock worth $2,412,000 after purchasing an additional 278,581 shares during the period. Geode Capital Management LLC increased its stake in Comtech Telecommunications by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 338,589 shares of the communications equipment provider’s stock worth $1,792,000 after purchasing an additional 3,411 shares during the period. MML Investors Services LLC increased its stake in Comtech Telecommunications by 4.4% in the second quarter. MML Investors Services LLC now owns 283,344 shares of the communications equipment provider’s stock worth $694,000 after purchasing an additional 11,988 shares during the period. Finally, Marshall Wace LLP increased its stake in Comtech Telecommunications by 15.4% in the second quarter. Marshall Wace LLP now owns 269,932 shares of the communications equipment provider’s stock worth $661,000 after purchasing an additional 36,069 shares during the period.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Comtech Telecommunications from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Comtech Telecommunications Stock Performance

Shares of Comtech Telecommunications stock opened at $4.18 on Wednesday. The firm has a market cap of $124.27 million, a P/E ratio of -1.87 and a beta of 1.40. The company has a current ratio of 1.69, a quick ratio of 1.23 and a debt-to-equity ratio of 3.22. Comtech Telecommunications Corp. has a 12 month low of $1.71 and a 12 month high of $6.21. The stock’s fifty day moving average price is $4.12 and its 200-day moving average price is $4.49.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings results on Monday, March 16th. The communications equipment provider reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.12. The firm had revenue of $106.76 million for the quarter, compared to analyst estimates of $113.85 million. Comtech Telecommunications had a return on equity of 50.25% and a net margin of 2.60%. On average, equities research analysts expect that Comtech Telecommunications Corp. will post -0.91 earnings per share for the current fiscal year.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.