Comtech Telecommunications (NASDAQ:CMTL) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Comtech Telecommunications (NASDAQ:CMTL) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

CMTL has been the subject of a number of other reports. Northcoast Research initiated coverage on shares of Comtech Telecommunications in a report on Thursday, July 23rd. They set a “buy” rating and a $2.50 target price for the company. Weiss Ratings upgraded shares of Comtech Telecommunications from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Finally, B. Riley Financial reduced their price objective on Comtech Telecommunications from $6.00 to $4.75 and set a “buy” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.62.

Comtech Telecommunications Trading Down 4.1%

Shares of CMTL stock opened at $1.39 on Friday. Comtech Telecommunications has a 12-month low of $1.15 and a 12-month high of $6.21. The stock has a market capitalization of $41.89 million, a P/E ratio of -0.60 and a beta of 1.59. The company has a current ratio of 0.84, a quick ratio of 1.19 and a debt-to-equity ratio of 2.17. The firm’s 50 day moving average is $1.52 and its 200 day moving average is $2.62.

Institutional Trading of Comtech Telecommunications

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. purchased a new position in shares of Comtech Telecommunications during the 3rd quarter valued at $29,000. Squarepoint Ops LLC grew its stake in Comtech Telecommunications by 61.7% during the second quarter. Squarepoint Ops LLC now owns 63,649 shares of the communications equipment provider’s stock valued at $134,000 after acquiring an additional 24,295 shares in the last quarter. Globeflex Capital L P purchased a new position in Comtech Telecommunications during the second quarter valued at $269,000. Renaissance Technologies LLC increased its holdings in Comtech Telecommunications by 153.9% in the 1st quarter. Renaissance Technologies LLC now owns 235,649 shares of the communications equipment provider’s stock valued at $782,000 after acquiring an additional 142,849 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Comtech Telecommunications by 80.6% during the 1st quarter. Cetera Investment Advisers now owns 40,962 shares of the communications equipment provider’s stock valued at $136,000 after buying an additional 18,287 shares in the last quarter.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corp. (NASDAQ: CMTL) is a technology company that develops and supplies communications infrastructure and network solutions for government, defense, public safety, telecommunications, and enterprise customers. Its offerings are designed to support connectivity in locations where reliable, secure, or resilient communications are required.

The company’s products and services have included satellite modems and terminals, satellite ground systems, troposcatter and other wireless communications equipment, network management software, and location-based technologies.