Comtech Telecommunications (NASDAQ:CMTL) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Comtech Telecommunications' share price crossed above its 200-day moving average of $1.98, reaching as high as $2.11 during trading, but last traded at $1.97 with a volume of 82,388 shares.
• B. Riley lowered their price target for the stock from $7.00 to $6.00 while maintaining a "buy" rating, with analysts giving it an average rating of "buy" overall.
• The company reported a net loss of $0.22 EPS for the last quarter, exceeding the consensus estimate and generating revenue of $126.79 million, above expectations.

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.98 and traded as high as $2.11. Comtech Telecommunications shares last traded at $1.97, with a volume of 82,388 shares trading hands.

Analysts Set New Price Targets

Separately, B. Riley cut their price target on shares of 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, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $6.00.

Comtech Telecommunications Stock Up 6.8%

The firm's 50 day simple moving average is $2.29 and its two-hundred day simple moving average is $1.98. The stock has a market cap of $60.27 million, a P/E ratio of -0.20 and a beta of 1.26.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last released its earnings results on Monday, June 9th. The communications equipment provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.08. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%. The firm had revenue of $126.79 million during the quarter, compared to analyst estimates of $124.12 million. As a group, equities analysts predict that Comtech Telecommunications Corp. will post -2.38 EPS for the current year.

Hedge Funds Weigh In On Comtech Telecommunications

Several institutional investors have recently modified their holdings of the company. Needham Investment Management LLC grew its position in shares of Comtech Telecommunications by 18.5% during the fourth quarter. Needham Investment Management LLC now owns 1,780,000 shares of the communications equipment provider's stock worth $7,138,000 after acquiring an additional 277,500 shares during the last quarter. Royce & Associates LP grew its position in shares of Comtech Telecommunications by 19.4% during the first quarter. Royce & Associates LP now owns 1,582,138 shares of the communications equipment provider's stock worth $2,531,000 after acquiring an additional 256,530 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of Comtech Telecommunications by 12.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,339,842 shares of the communications equipment provider's stock worth $5,373,000 after acquiring an additional 143,225 shares during the last quarter. QVT Financial LP grew its position in shares of Comtech Telecommunications by 39.5% during the second quarter. QVT Financial LP now owns 984,354 shares of the communications equipment provider's stock worth $2,412,000 after acquiring an additional 278,581 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its position in shares of Comtech Telecommunications by 7.5% during the first quarter. Pacific Ridge Capital Partners LLC now owns 494,174 shares of the communications equipment provider's stock worth $791,000 after acquiring an additional 34,544 shares during 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.