Comtech Telecommunications Corp. (NASDAQ:CMTL – Get Free Report) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 1,110,000 shares, an increase of 6.7% from the August 31st total of 1,040,000 shares. Based on an average daily volume of 547,000 shares, the short-interest ratio is presently 2.0 days.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group upgraded Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 price objective on the stock in a research note on Tuesday, June 25th.
Check Out Our Latest Analysis on CMTL
Comtech Telecommunications Stock Performance
Institutional Investors Weigh In On Comtech Telecommunications
Hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. bought a new position in Comtech Telecommunications during the fourth quarter worth about $189,000. Penn Mutual Asset Management LLC bought a new position in shares of Comtech Telecommunications during the fourth quarter worth approximately $2,898,000. Invenomic Capital Management LP acquired a new stake in shares of Comtech Telecommunications in the fourth quarter valued at approximately $1,592,000. Quadrature Capital Ltd boosted its stake in shares of Comtech Telecommunications by 42.3% in the fourth quarter. Quadrature Capital Ltd now owns 33,058 shares of the communications equipment provider’s stock valued at $278,000 after buying an additional 9,831 shares during the period. Finally, Oak Thistle LLC acquired a new stake in Comtech Telecommunications during the first quarter worth approximately $66,000.
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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