Comtech Telecommunications Corp. (NASDAQ:CMTL – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.00 and traded as high as $3.51. Comtech Telecommunications shares last traded at $3.44, with a volume of 189,692 shares changing hands.
Analysts Set New Price Targets
Separately, Jefferies Financial Group raised shares of Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 target price on the stock in a research report on Tuesday, June 25th.
Read Our Latest Research Report on CMTL
Comtech Telecommunications Price Performance
Comtech Telecommunications (NASDAQ:CMTL – Get Free Report) last issued its quarterly earnings results on Tuesday, June 18th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.18. The firm had revenue of $128.08 million during the quarter, compared to the consensus estimate of $136.42 million. Comtech Telecommunications had a positive return on equity of 3.70% and a negative net margin of 2.26%. Research analysts predict that Comtech Telecommunications Corp. will post 0.08 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new position in shares of Comtech Telecommunications during the 2nd quarter valued at $31,000. Point72 DIFC Ltd purchased a new stake in Comtech Telecommunications during the second quarter valued at $37,000. Oak Thistle LLC bought a new stake in shares of Comtech Telecommunications in the 1st quarter valued at approximately $66,000. Virtu Financial LLC purchased a new position in shares of Comtech Telecommunications in the 1st quarter worth approximately $81,000. Finally, Summit Securities Group LLC bought a new position in shares of Comtech Telecommunications during the 2nd quarter valued at approximately $82,000.
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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