Comtech Telecommunications Corp. (NASDAQ:CMTL) Short Interest Down 6.3% in June

Comtech Telecommunications Corp. (NASDAQ:CMTL) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 2,970,000 shares, a decrease of 6.3% from the May 31st total of 3,170,000 shares. Based on an average daily volume of 2,270,000 shares, the days-to-cover ratio is currently 1.3 days.

Comtech Telecommunications Stock Performance

Comtech Telecommunications stock opened at $3.23 on Thursday. Comtech Telecommunications has a 52 week low of $1.53 and a 52 week high of $13.04. The company’s 50 day moving average price is $2.44 and its two-hundred day moving average price is $4.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.78 and a quick ratio of 1.28.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of Comtech Telecommunications from an “underperform” rating to a “hold” rating and set a $3.50 price target on the stock in a research report on Tuesday, June 25th.

Hedge Funds Weigh In On Comtech Telecommunications

Several hedge funds have recently modified their holdings of CMTL. Oak Thistle LLC bought a new position in shares of Comtech Telecommunications during the 1st quarter worth approximately $66,000. Virtu Financial LLC purchased a new stake in shares of Comtech Telecommunications during the 1st quarter worth approximately $81,000. Oxford Asset Management LLP bought a new stake in shares of Comtech Telecommunications in the 4th quarter worth approximately $105,000. FourWorld Capital Management LLC purchased a new position in Comtech Telecommunications in the first quarter valued at approximately $153,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Comtech Telecommunications during the fourth quarter valued at $187,000.

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.