Comtech Telecommunications' (CMTL) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Comtech Telecommunications (CMTL) received a reaffirmed "sell (D-)" rating from Weiss Ratings, indicating ongoing concerns about its stock performance.
• Recent trading showed CMTL's stock price at $2.91, with a market capitalization of $85.55 million and a consensus target price of $6.00.
• Institutional investors are actively adjusting their holdings in CMTL, with firms like Goldman Sachs increasing their stake by 86.8% in the first quarter.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

CMTL has been the topic of several other reports. Wall Street Zen upgraded Comtech Telecommunications from a "sell" rating to a "hold" rating in a report on Friday, September 5th. B. Riley reduced their price target on Comtech Telecommunications from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Comtech Telecommunications currently has an average rating of "Hold" and a consensus target price of $6.00.

Comtech Telecommunications Price Performance

Shares of NASDAQ CMTL traded up $0.09 during mid-day trading on Wednesday, reaching $2.91. The company's stock had a trading volume of 117,545 shares, compared to its average volume of 191,579. The firm has a market capitalization of $85.55 million, a PE ratio of -0.29 and a beta of 1.30. The stock has a fifty day moving average of $2.26 and a two-hundred day moving average of $2.06. Comtech Telecommunications has a 52 week low of $1.19 and a 52 week high of $4.88.

Institutional Trading of Comtech Telecommunications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of Comtech Telecommunications by 25.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider's stock valued at $62,000 after purchasing an additional 5,192 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Comtech Telecommunications in the first quarter valued at $59,000. Goldman Sachs Group Inc. increased its position in shares of Comtech Telecommunications by 86.8% during 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 in the last quarter. Mount Lucas Management LP purchased a new position in shares of Comtech Telecommunications during the first quarter worth about $80,000. Finally, Penserra Capital Management LLC boosted its holdings in Comtech Telecommunications by 21.5% in the 1st 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.

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.

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