Comtech Telecommunications (NASDAQ:CMTL) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.00 and traded as high as $2.38. Comtech Telecommunications shares last traded at $2.36, with a volume of 268,166 shares.

Wall Street Analysts Forecast Growth

CMTL has been the subject of a number of analyst reports. Wall Street Zen raised Comtech Telecommunications from a "sell" rating to a "hold" rating in a report on Friday, September 5th. B. Riley cut their target price on shares of Comtech Telecommunications from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, June 10th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Comtech Telecommunications currently has a consensus rating of "Buy" and an average price target of $6.00.

Comtech Telecommunications Stock Up 0.9%

The company has a 50 day moving average of $2.18 and a 200 day moving average of $2.00. The stock has a market capitalization of $69.38 million, a price-to-earnings ratio of -0.24 and a beta of 1.27.

Institutional Investors Weigh In On Comtech Telecommunications

A number of institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Comtech Telecommunications during the first quarter worth approximately $59,000. Cetera Investment Advisers acquired a new stake in shares of Comtech Telecommunications during the 4th quarter worth $60,000. Goldman Sachs Group Inc. raised its position in shares of Comtech Telecommunications by 86.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider's stock worth $71,000 after buying an additional 20,726 shares during the period. Mount Lucas Management LP acquired a new position in Comtech Telecommunications in the first quarter valued at $80,000. Finally, Penserra Capital Management LLC grew its position in Comtech Telecommunications by 21.5% during the first quarter. Penserra Capital Management LLC now owns 64,590 shares of the communications equipment provider's stock valued at $103,000 after acquiring an additional 11,451 shares during the period.

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.

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