B. Riley Issues Pessimistic Forecast for Comtech Telecommunications (NASDAQ:CMTL) Stock Price

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) had its price target decreased by equities research analysts at B. Riley from $7.00 to $6.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the communications equipment provider's stock. B. Riley's price objective would indicate a potential upside of 207.69% from the stock's previous close.

Comtech Telecommunications Price Performance

Shares of NASDAQ:CMTL traded down $0.14 during midday trading on Tuesday, reaching $1.95. The company's stock had a trading volume of 232,951 shares, compared to its average volume of 874,938. Comtech Telecommunications has a fifty-two week low of $1.19 and a fifty-two week high of $5.16. The company has a market capitalization of $57.23 million, a P/E ratio of -0.20 and a beta of 1.19. The business's fifty day simple moving average is $1.72 and its 200-day simple moving average is $2.32.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last announced its earnings results on Monday, June 9th. The communications equipment provider reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.08. The company had revenue of $126.79 million during the quarter, compared to analyst estimates of $124.12 million. Comtech Telecommunications had a negative return on equity of 8.76% and a negative net margin of 48.97%. On average, analysts forecast that Comtech Telecommunications will post -2.38 earnings per share for the current fiscal year.

Institutional Trading of Comtech Telecommunications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in Comtech Telecommunications by 86.8% in the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider's stock worth $71,000 after purchasing an additional 20,726 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Comtech Telecommunications in the first quarter worth about $59,000. QVT Financial LP increased its position in Comtech Telecommunications by 16.5% in the first quarter. QVT Financial LP now owns 705,773 shares of the communications equipment provider's stock worth $1,129,000 after purchasing an additional 100,000 shares during the period. Pacific Ridge Capital Partners LLC increased its position in Comtech Telecommunications by 7.5% in the first quarter. Pacific Ridge Capital Partners LLC now owns 494,174 shares of the communications equipment provider's stock worth $791,000 after purchasing an additional 34,544 shares during the period. Finally, Royce & Associates LP increased its position in Comtech Telecommunications by 19.4% in the first quarter. Royce & Associates LP now owns 1,582,138 shares of the communications equipment provider's stock worth $2,531,000 after purchasing an additional 256,530 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.