Comtech Telecommunications (NASDAQ:CMTL) Shares Pass Above 200-Day Moving Average - Here's What Happened

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.09 and traded as high as $2.50. Comtech Telecommunications shares last traded at $2.35, with a volume of 196,653 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their price target on Comtech Telecommunications from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th.

Comtech Telecommunications Stock Down 1.3%

The company has a 50-day moving average of $2.33 and a 200 day moving average of $2.05. The firm has a market capitalization of $66.74 million, a PE ratio of -0.23 and a beta of 1.24.

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 analysts' consensus estimates of ($0.30) by $0.08. Comtech Telecommunications had a negative return on equity of 15.38% and a negative net margin of 51.28%. The company had revenue of $126.79 million during the quarter, compared to analyst estimates of $124.12 million. As a group, equities analysts anticipate that Comtech Telecommunications Corp. will post -2.38 EPS for the current fiscal year.

Institutional Trading of Comtech Telecommunications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Comtech Telecommunications during the 4th quarter valued at $27,000. Bank of America Corp DE lifted its holdings in shares of Comtech Telecommunications by 7.9% during the 4th quarter. Bank of America Corp DE now owns 109,194 shares of the communications equipment provider's stock valued at $438,000 after buying an additional 8,006 shares during the period. Williams Jones Wealth Management LLC. bought a new position in shares of Comtech Telecommunications during the 4th quarter valued at $40,000. Marshall Wace LLP bought a new position in Comtech Telecommunications in the 4th quarter worth $44,000. Finally, Northern Trust Corp raised its holdings in Comtech Telecommunications by 13.8% in the 4th quarter. Northern Trust Corp now owns 91,225 shares of the communications equipment provider's stock worth $366,000 after purchasing an additional 11,062 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.