B. Riley Lowers Comtech Telecommunications (NASDAQ:CMTL) Price Target to $6.00

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) had its price target decreased by stock analysts at B. Riley from $7.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the communications equipment provider's stock. B. Riley's target price suggests a potential upside of 171.49% from the company's current price.

Comtech Telecommunications Trading Up 6.2%

Comtech Telecommunications stock traded up $0.13 during mid-day trading on Tuesday, hitting $2.21. The company had a trading volume of 259,932 shares, compared to its average volume of 878,420. The company has a market capitalization of $64.86 million, a price-to-earnings ratio of -0.22 and a beta of 1.19. Comtech Telecommunications has a 12-month low of $1.19 and a 12-month high of $5.16. The company's fifty day moving average is $1.68 and its 200-day moving average is $2.34.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last posted its earnings results on Monday, June 9th. The communications equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.08. The firm had revenue of $126.79 million during the quarter, compared to analysts' expectations of $124.12 million. Comtech Telecommunications had a negative net margin of 48.97% and a negative return on equity of 8.76%. As a group, sell-side analysts expect that Comtech Telecommunications will post -2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Comtech Telecommunications

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in Comtech Telecommunications in the 4th quarter valued at about $27,000. Williams Jones Wealth Management LLC. purchased a new stake in shares of Comtech Telecommunications during the 4th quarter valued at approximately $40,000. Marshall Wace LLP acquired a new position in shares of Comtech Telecommunications in the 4th quarter valued at $44,000. Dynamic Technology Lab Private Ltd acquired a new stake in Comtech Telecommunications in the 1st quarter valued at approximately $59,000. Finally, Cetera Investment Advisers purchased a new position in Comtech Telecommunications during the 4th quarter valued at about $60,000.

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.