Comtech Telecommunications (NASDAQ:CMTL) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Comtech Telecommunications' stock price crossed above its 200-day moving average of $1.98, reaching a high of $2.48 during trading on Tuesday.
• Analysts have upgraded the stock from a "sell" to a "hold" rating, with an average price target of $6.00 following recent research reports.
• Significant investments from hedge funds have been observed, with Goldman Sachs increasing its stake by 86.8% in the first quarter.

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.98 and traded as high as $2.48. Comtech Telecommunications shares last traded at $2.44, with a volume of 140,110 shares changing hands.

Analyst Upgrades and Downgrades

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

Comtech Telecommunications Price Performance

The business's fifty day moving average price is $2.19 and its 200 day moving average price is $1.99. The company has a market cap of $66.15 million, a price-to-earnings ratio of -0.22 and a beta of 1.27.

Institutional Investors Weigh In On Comtech Telecommunications

Several hedge funds and other institutional investors have recently bought and sold shares of CMTL. Dynamic Technology Lab Private Ltd purchased a new position in Comtech Telecommunications during the first quarter worth about $59,000. Cetera Investment Advisers bought a new stake in shares of Comtech Telecommunications in the fourth quarter valued at approximately $60,000. Goldman Sachs Group Inc. raised its position in shares of Comtech Telecommunications by 86.8% in the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider's stock valued at $71,000 after purchasing an additional 20,726 shares during the period. Mount Lucas Management LP bought a new stake in Comtech Telecommunications during the 1st quarter worth approximately $80,000. Finally, Penserra Capital Management LLC increased 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 acquiring an additional 11,451 shares during the period.

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.