Covestor Ltd Buys New Holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL)

Covestor Ltd acquired a new position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,834 shares of the communications equipment provider’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Comtech Telecommunications during the second quarter worth about $31,000. Point72 DIFC Ltd bought a new position in shares of Comtech Telecommunications in the second quarter valued at $37,000. Virtu Financial LLC acquired a new stake in Comtech Telecommunications during the 1st quarter valued at $81,000. Summit Securities Group LLC acquired a new stake in Comtech Telecommunications during the 2nd quarter valued at $82,000. Finally, FourWorld Capital Management LLC acquired a new position in shares of Comtech Telecommunications in the first quarter worth $153,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Comtech Telecommunications to a “sell” rating in a report on Tuesday. B. Riley dropped their price target on shares of Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating for the company in a research report on Monday, November 4th.

Comtech Telecommunications Trading Down 4.1 %

Shares of NASDAQ CMTL opened at $2.60 on Friday. The stock has a market cap of $75.06 million, a price-to-earnings ratio of -0.55 and a beta of 1.61. The company’s fifty day moving average is $3.65 and its 200-day moving average is $3.10. Comtech Telecommunications Corp. has a twelve month low of $1.53 and a twelve month high of $12.51. The company has a quick ratio of 1.33, a current ratio of 1.83 and a debt-to-equity ratio of 0.56.

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.