Comtech Telecommunications (NASDAQ:CMTL) Given New $9.25 Price Target at B. Riley

Comtech Telecommunications (NASDAQ:CMTL - Free Report) had its target price cut by B. Riley from $12.25 to $9.25 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the communications equipment provider's stock.

Comtech Telecommunications Price Performance

CMTL traded down $0.44 on Monday, hitting $2.47. 1,244,855 shares of the company's stock were exchanged, compared to its average volume of 1,022,240. Comtech Telecommunications has a fifty-two week low of $1.53 and a fifty-two week high of $12.99. The stock has a market cap of $71.30 million, a price-to-earnings ratio of -0.53, a P/E/G ratio of 1.32 and a beta of 1.62. The firm has a 50-day moving average price of $3.75 and a 200-day moving average price of $3.06. The company has a current ratio of 1.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.39.

Institutional Investors Weigh In On Comtech Telecommunications

Several hedge funds and other institutional investors have recently made changes to their positions in CMTL. Archon Capital Management LLC increased its stake 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 during the last quarter. Vanguard Group Inc. raised its stake in Comtech Telecommunications by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider's stock worth $4,993,000 after purchasing an additional 10,111 shares during the period. Invenomic Capital Management LP boosted its holdings in Comtech Telecommunications by 369.1% in the 1st quarter. Invenomic Capital Management LP now owns 886,135 shares of the communications equipment provider's stock valued at $3,039,000 after purchasing an additional 697,248 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in shares of Comtech Telecommunications by 21.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 562,239 shares of the communications equipment provider's stock valued at $1,704,000 after buying an additional 100,577 shares during the period. Finally, Huber Capital Management LLC raised its position in shares of Comtech Telecommunications by 19.6% during the 1st quarter. Huber Capital Management LLC now owns 278,128 shares of the communications equipment provider's stock valued at $954,000 after buying an additional 45,616 shares during the period.

Comtech Telecommunications Company 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.