Comtech Telecommunications (NASDAQ:CMTL) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Comtech Telecommunications Corp. (NASDAQ:CMTL) recently surpassed its 200-day moving average of $2.06, with the stock trading as high as $2.94 and last recorded at $2.91.
• Analyst sentiment is mixed, with Wall Street Zen upgrading the stock from a "sell" to a "hold" rating, while Weiss Ratings maintains a "sell (d-)" rating, leading to a consensus rating of "Hold" with a target price of $6.00.
• Large institutional investors have shown increased interest, with Bank of America Corp DE and other firms boosting their holdings in Comtech Telecommunications during the last quarter.

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.06 and traded as high as $2.94. Comtech Telecommunications shares last traded at $2.91, with a volume of 117,545 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on CMTL shares. Wall Street Zen upgraded Comtech Telecommunications from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Comtech Telecommunications in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $6.00.

Comtech Telecommunications Trading Up 3.2%

The business has a 50 day simple moving average of $2.26 and a two-hundred day simple moving average of $2.06. The stock has a market cap of $85.54 million, a price-to-earnings ratio of -0.29 and a beta of 1.30.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CMTL. Bank of America Corp DE lifted its holdings in 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 worth $438,000 after buying an additional 8,006 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in Comtech Telecommunications by 21.5% during the 1st quarter. Penserra Capital Management LLC now owns 64,590 shares of the communications equipment provider's stock worth $103,000 after buying an additional 11,451 shares during the last quarter. Mount Lucas Management LP bought a new position in Comtech Telecommunications during the 1st quarter worth approximately $80,000. Royce & Associates LP lifted its holdings in Comtech Telecommunications by 19.4% during the 1st quarter. Royce & Associates LP now owns 1,582,138 shares of the communications equipment provider's stock worth $2,531,000 after buying an additional 256,530 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in Comtech Telecommunications by 7.5% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 494,174 shares of the communications equipment provider's stock worth $791,000 after buying an additional 34,544 shares during the last quarter.

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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