Comtech Telecommunications (NASDAQ:CMTL) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

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 crossed 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 lowered their target price on shares of Comtech Telecommunications from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $6.00.

Comtech Telecommunications Stock Performance

The business's fifty day moving average price is $2.29 and its two-hundred day moving average price is $1.97. The stock has a market capitalization 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 (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 analyst estimates of $124.12 million. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%. As a group, analysts forecast that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current year.

Institutional Investors Weigh In On Comtech Telecommunications

Several institutional investors have recently made changes to their positions in CMTL. Cubist Systematic Strategies LLC purchased a new position in Comtech Telecommunications in the 4th quarter worth about $27,000. Williams Jones Wealth Management LLC. bought a new stake in Comtech Telecommunications during the 4th quarter valued at about $40,000. Marshall Wace LLP bought a new stake in Comtech Telecommunications during the 4th quarter valued at about $44,000. Dynamic Technology Lab Private Ltd bought a new stake in Comtech Telecommunications during the 1st quarter valued at about $59,000. Finally, Cetera Investment Advisers bought a new stake 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.