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

Key Points

• Comtech Telecommunications Corp.'s shares have recently surpassed the 200-day moving average, trading as high as $2.10 but closing at $1.99.
• B. Riley has reduced its price target for the company from $7.00 to $6.00, while maintaining a "buy" rating on the stock.
• The company reported earnings of ($0.22) per share, exceeding analysts' estimates, and has a negative net margin of 51.28% with a quarterly revenue of $126.79 million.

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.98 and traded as high as $2.10. Comtech Telecommunications shares last traded at $1.99, with a volume of 97,360 shares trading hands.

Wall Street Analyst Weigh In

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

Comtech Telecommunications Stock Down 1.0%

The stock has a 50 day moving average price of $2.32 and a 200 day moving average price of $1.98. The stock has a market capitalization of $58.51 million, a price-to-earnings ratio of -0.20 and a beta of 1.26.

Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The communications equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $124.12 million. Sell-side analysts forecast that Comtech Telecommunications Corp. will post -2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comtech Telecommunications

A number of hedge funds have recently made changes to their positions in CMTL. Cubist Systematic Strategies LLC bought a new position in shares of Comtech Telecommunications during the fourth quarter worth about $27,000. Williams Jones Wealth Management LLC. bought a new position in shares of Comtech Telecommunications during the fourth quarter worth about $40,000. Marshall Wace LLP bought a new position in shares of Comtech Telecommunications during the fourth quarter worth about $44,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Comtech Telecommunications during the first quarter worth about $59,000. Finally, Cetera Investment Advisers bought a new position in shares of Comtech Telecommunications during the fourth quarter worth 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.

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