Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Down 14.4% in October

Comtech Telecommunications Corp. (NASDAQ:CMTL - Get Free Report) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,070,000 shares, a decrease of 14.4% from the September 30th total of 1,250,000 shares. Based on an average daily trading volume, of 379,500 shares, the days-to-cover ratio is presently 2.8 days. Approximately 4.2% of the company's stock are sold short.

Institutional Investors Weigh In On Comtech Telecommunications

A number of institutional investors and hedge funds have recently modified their holdings of CMTL. Wasatch Advisors LP bought a new stake in Comtech Telecommunications in the first quarter valued at approximately $2,651,000. Empowered Funds LLC raised its stake in Comtech Telecommunications by 8.2% in the 1st quarter. Empowered Funds LLC now owns 76,370 shares of the communications equipment provider's stock valued at $262,000 after acquiring an additional 5,765 shares during the period. Vanguard Group Inc. lifted its holdings 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. Point72 Asia Singapore Pte. Ltd. bought a new position in Comtech Telecommunications during the second quarter worth $174,000. Finally, Virtu Financial LLC acquired a new position in shares of Comtech Telecommunications in the first quarter valued at $81,000.

Comtech Telecommunications Stock Performance

CMTL stock traded up $0.10 during trading hours on Tuesday, reaching $3.93. The stock had a trading volume of 281,662 shares, compared to its average volume of 1,029,781. The stock has a 50-day simple moving average of $3.74 and a 200 day simple moving average of $3.03. Comtech Telecommunications has a fifty-two week low of $1.53 and a fifty-two week high of $13.04. The stock has a market capitalization of $111.98 million, a PE ratio of -2.79, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.78 and a quick ratio of 1.28.

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.