Point72 DIFC Ltd Purchases New Position in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Point72 DIFC Ltd acquired a new position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,048 shares of the communications equipment provider’s stock, valued at approximately $37,000.

Several other hedge funds have also recently bought and sold shares of the stock. Wasatch Advisors LP bought a new stake in shares of Comtech Telecommunications in the 1st quarter worth about $2,651,000. Invenomic Capital Management LP increased its holdings in shares of Comtech Telecommunications by 369.1% during the first quarter. Invenomic Capital Management LP now owns 886,135 shares of the communications equipment provider’s stock worth $3,039,000 after buying an additional 697,248 shares in the last quarter. Penn Mutual Asset Management LLC bought a new position in shares of Comtech Telecommunications in the fourth quarter valued at approximately $2,898,000. Archon Capital Management LLC boosted its holdings in shares of Comtech Telecommunications by 15.4% in the 1st quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock worth $5,678,000 after acquiring an additional 221,380 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Comtech Telecommunications by 306.2% during the 2nd quarter. XTX Topco Ltd now owns 85,779 shares of the communications equipment provider’s stock worth $260,000 after acquiring an additional 64,659 shares during the last quarter.

Comtech Telecommunications Trading Up 2.7 %

CMTL opened at $4.20 on Monday. Comtech Telecommunications Corp. has a 1-year low of $1.53 and a 1-year high of $13.04. The firm has a 50-day moving average price of $3.27 and a two-hundred day moving average price of $2.89. The stock has a market capitalization of $119.67 million, a PE ratio of -2.98, a PEG ratio of 1.60 and a beta of 1.58. The company has a current ratio of 1.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.39.

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 for the company in a research report on Tuesday, June 25th.

Comtech Telecommunications Profile

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.