Comtech Telecommunications (NASDAQ:CMTL) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Comtech Telecommunications' shares have recently crossed above their 200-day moving average, reaching a high of $2.07, with a current position at $2.00.
• B. Riley has lowered its price target for Comtech from $7.00 to $6.00, maintaining a "buy" rating as the stock holds a consensus rating of "Buy" among analysts.
• The company reported a revenue of $126.79 million for the last quarter, surpassing the consensus estimate of $124.12 million, despite a negative earnings per share of ($0.22).

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.97 and traded as high as $2.07. Comtech Telecommunications shares last traded at $2.00, with a volume of 60,035 shares.

Analysts Set New Price Targets

Separately, B. Riley cut their target price on Comtech Telecommunications from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Comtech Telecommunications currently has an average rating of "Buy" and a consensus target price of $6.00.

Comtech Telecommunications Trading Down 2.5%

The company has a market cap of $57.33 million, a price-to-earnings ratio of -0.19 and a beta of 1.28. The company's 50 day moving average price is $2.29 and its 200 day moving average price is $1.97.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The communications equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping 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 51.28% and a negative return on equity of 15.38%. Sell-side analysts predict that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current year.

Institutional Trading of Comtech Telecommunications

A number of institutional investors have recently modified their holdings of the business. Needham Investment Management LLC boosted its stake in shares of Comtech Telecommunications by 18.5% in the fourth quarter. Needham Investment Management LLC now owns 1,780,000 shares of the communications equipment provider's stock valued at $7,138,000 after buying an additional 277,500 shares in the last quarter. Royce & Associates LP boosted its stake in shares of 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 valued at $2,531,000 after buying an additional 256,530 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Comtech Telecommunications by 12.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,339,842 shares of the communications equipment provider's stock valued at $5,373,000 after buying an additional 143,225 shares in the last quarter. QVT Financial LP boosted its stake in shares of Comtech Telecommunications by 39.5% in the second quarter. QVT Financial LP now owns 984,354 shares of the communications equipment provider's stock valued at $2,412,000 after buying an additional 278,581 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted its stake in shares of 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 valued at $791,000 after buying an additional 34,544 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.