B. Riley Issues Pessimistic Forecast for Comtech Telecommunications (NASDAQ:CMTL) Stock Price

Comtech Telecommunications (NASDAQ:CMTL) had its price objective cut by B. Riley from $12.25 to $9.25 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Comtech Telecommunications Trading Down 15.1 %

Shares of NASDAQ:CMTL opened at $2.47 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. Comtech Telecommunications has a 52-week low of $1.53 and a 52-week high of $12.99. The business’s 50 day simple moving average is $3.75 and its two-hundred day simple moving average is $3.06.

Institutional Trading of Comtech Telecommunications

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Archon Capital Management LLC grew its holdings in shares of Comtech Telecommunications by 15.4% during the first quarter. Archon Capital Management LLC now owns 1,655,473 shares of the communications equipment provider’s stock valued at $5,678,000 after buying an additional 221,380 shares during the last quarter. Vanguard Group Inc. boosted its stake in Comtech Telecommunications by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock valued at $4,993,000 after purchasing an additional 10,111 shares during the last quarter. Invenomic Capital Management LP increased its holdings in Comtech Telecommunications by 369.1% during the 1st quarter. Invenomic Capital Management LP now owns 886,135 shares of the communications equipment provider’s stock worth $3,039,000 after purchasing an additional 697,248 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Comtech Telecommunications by 21.8% in the second quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider’s stock worth $1,704,000 after purchasing an additional 100,577 shares during the last quarter. Finally, Huber Capital Management LLC lifted its holdings in shares of Comtech Telecommunications by 19.6% in the first quarter. Huber Capital Management LLC now owns 278,128 shares of the communications equipment provider’s stock valued at $954,000 after purchasing an additional 45,616 shares in the last quarter.

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.