Comtech Telecommunications Corp. (NASDAQ:CMTL) Sees Large Drop in Short Interest

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report) saw a large decline in short interest in May. As of May 15th, there was short interest totalling 1,320,000 shares, a decline of 18.0% from the April 30th total of 1,610,000 shares. Based on an average daily volume of 297,700 shares, the days-to-cover ratio is presently 4.4 days. Currently, 4.6% of the shares of the company are short sold.

Comtech Telecommunications Price Performance

Shares of CMTL stock traded up $0.06 during trading hours on Wednesday, reaching $2.16. 81,594 shares of the company's stock were exchanged, compared to its average volume of 871,493. Comtech Telecommunications has a 1 year low of $1.19 and a 1 year high of $5.16. The company has a market cap of $63.39 million, a P/E ratio of -0.22 and a beta of 1.00. The company's 50 day moving average is $1.61 and its two-hundred day moving average is $2.36.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last released its earnings results on Wednesday, March 12th. The communications equipment provider reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.01). The business had revenue of $126.57 million during the quarter, compared to analyst estimates of $117.00 million. Comtech Telecommunications had a negative net margin of 48.97% and a negative return on equity of 8.76%. As a group, analysts predict that Comtech Telecommunications will post -2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nkcfo LLC acquired a new stake in shares of Comtech Telecommunications in the 4th quarter worth approximately $401,000. Royce & Associates LP boosted its position in Comtech Telecommunications by 34.0% during the fourth quarter. Royce & Associates LP now owns 1,325,608 shares of the communications equipment provider's stock worth $5,316,000 after purchasing an additional 336,310 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Comtech Telecommunications in the fourth quarter valued at $297,000. Barclays PLC increased its position in shares of Comtech Telecommunications by 39.0% in the fourth quarter. Barclays PLC now owns 42,425 shares of the communications equipment provider's stock valued at $171,000 after buying an additional 11,908 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Comtech Telecommunications during the 4th quarter worth $121,000.

Comtech Telecommunications Company Profile

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.