Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Update

Comtech Telecommunications Corp. (NASDAQ:CMTL) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 2,730,000 shares, a growth of 25.8% from the March 31st total of 2,170,000 shares. Based on an average daily volume of 559,800 shares, the days-to-cover ratio is currently 4.9 days.

Comtech Telecommunications Price Performance

Shares of Comtech Telecommunications stock traded down $0.15 during trading on Tuesday, hitting $1.88. 570,527 shares of the stock were exchanged, compared to its average volume of 533,729. The firm’s 50-day moving average price is $4.00 and its 200 day moving average price is $7.47. The stock has a market cap of $53.52 million, a price-to-earnings ratio of -1.11, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. Comtech Telecommunications has a 12-month low of $1.53 and a 12-month high of $13.04.

Comtech Telecommunications (NASDAQ:CMTL) last announced its quarterly earnings results on Monday, March 18th. The communications equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.45). Comtech Telecommunications had a negative return on equity of 0.25% and a negative net margin of 4.02%. The business had revenue of $134.23 million for the quarter, compared to analysts’ expectations of $152.85 million. As a group, research analysts forecast that Comtech Telecommunications will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Comtech Telecommunications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paradigm Capital Management Inc. NY purchased a new stake in Comtech Telecommunications in the third quarter valued at $8,295,000. Wasatch Advisors LP acquired a new position in shares of Comtech Telecommunications in the 1st quarter valued at $2,651,000. Kennedy Capital Management LLC raised its position in Comtech Telecommunications by 1,170.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 631,552 shares of the communications equipment provider’s stock valued at $5,526,000 after purchasing an additional 581,850 shares during the last quarter. Penn Mutual Asset Management LLC acquired a new stake in Comtech Telecommunications during the 4th quarter worth $2,898,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Comtech Telecommunications during the 4th quarter worth $1,959,000.

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.