Covestor Ltd Acquires Shares of 5,834 Comtech Telecommunications Corp. (NASDAQ:CMTL)

Covestor Ltd acquired a new stake in Comtech Telecommunications Corp. (NASDAQ:CMTL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,834 shares of the communications equipment provider’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of Comtech Telecommunications in the second quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Comtech Telecommunications in the second quarter valued at approximately $174,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Comtech Telecommunications in the second quarter valued at approximately $31,000. Pacific Ridge Capital Partners LLC lifted its position 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 valued at $1,704,000 after acquiring an additional 100,577 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Comtech Telecommunications by 90.4% in the second quarter. AQR Capital Management LLC now owns 207,447 shares of the communications equipment provider’s stock valued at $629,000 after acquiring an additional 98,479 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMTL. StockNews.com upgraded Comtech Telecommunications to a “sell” rating in a research report on Tuesday. B. Riley reduced their price objective on Comtech Telecommunications from $12.25 to $9.25 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Comtech Telecommunications Price Performance

NASDAQ:CMTL opened at $2.60 on Friday. Comtech Telecommunications Corp. has a 52 week low of $1.53 and a 52 week high of $12.51. The company has a quick ratio of 1.33, a current ratio of 1.83 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $75.06 million, a P/E ratio of -0.55 and a beta of 1.61. The stock’s fifty day moving average is $3.65 and its two-hundred day moving average is $3.10.

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.