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

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.18 and traded as high as $2.90. Comtech Telecommunications shares last traded at $2.88, with a volume of 139,608 shares traded.

Analyst Upgrades and Downgrades

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

Comtech Telecommunications Stock Down 9.8%

The firm has a 50-day moving average price of $2.16 and a 200 day moving average price of $2.14. The firm has a market capitalization of $76.13 million, a PE ratio of -0.26 and a beta of 1.24.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last released its quarterly earnings results on Monday, June 9th. The communications equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate 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 business had revenue of $126.79 million during the quarter, compared to analyst estimates of $124.12 million. Equities research analysts expect that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC boosted its holdings in Comtech Telecommunications by 21.5% in the first quarter. Penserra Capital Management LLC now owns 64,590 shares of the communications equipment provider's stock valued at $103,000 after purchasing an additional 11,451 shares during the period. Royce & Associates LP boosted its holdings in Comtech Telecommunications by 34.0% in the fourth quarter. Royce & Associates LP now owns 1,325,608 shares of the communications equipment provider's stock valued at $5,316,000 after purchasing an additional 336,310 shares during the period. Renaissance Technologies LLC purchased a new position in Comtech Telecommunications in the fourth quarter valued at $297,000. Marshall Wace LLP purchased a new position in Comtech Telecommunications in the fourth quarter valued at $44,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Comtech Telecommunications in the fourth quarter valued at $27,000.

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.