Royce & Associates LP purchased a new stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 989,298 shares of the communications equipment provider's stock, valued at approximately $4,759,000. Royce & Associates LP owned about 3.43% of Comtech Telecommunications as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Covestor Ltd purchased a new stake in Comtech Telecommunications during the third quarter valued at approximately $28,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Comtech Telecommunications in the 2nd quarter worth $31,000. Point72 DIFC Ltd purchased a new position in Comtech Telecommunications during the 2nd quarter worth $37,000. Virtu Financial LLC purchased a new position in Comtech Telecommunications during the 1st quarter worth $81,000. Finally, Summit Securities Group LLC acquired a new position in Comtech Telecommunications during the 2nd quarter valued at about $82,000.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. B. Riley lowered their price target on Comtech Telecommunications from $12.25 to $9.25 and set a "buy" rating for the company in a report on Monday, November 4th. StockNews.com upgraded shares of Comtech Telecommunications to a "sell" rating in a research note on Tuesday, November 12th.
Read Our Latest Report on Comtech Telecommunications
Comtech Telecommunications Stock Performance
Comtech Telecommunications stock traded up $0.27 during trading hours on Tuesday, hitting $2.93. 646,062 shares of the stock traded hands, compared to its average volume of 996,881. The firm's 50 day moving average price is $3.65 and its 200-day moving average price is $3.13. The stock has a market capitalization of $84.44 million, a price-to-earnings ratio of -0.62 and a beta of 1.61. Comtech Telecommunications Corp. has a 1 year low of $1.53 and a 1 year high of $12.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 1.33.
Comtech Telecommunications Company Profile
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Free Report)
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.
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