Comtech Telecommunications (NASDAQ:CMTL) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Comtech Telecommunications (NASDAQ:CMTL) from a hold rating to a sell rating in a research report released on Monday.

Separately, Weiss Ratings lowered Comtech Telecommunications from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Comtech Telecommunications Stock Performance

Comtech Telecommunications stock opened at $1.65 on Monday. Comtech Telecommunications has a 1-year low of $1.59 and a 1-year high of $6.21. The company has a current ratio of 1.61, a quick ratio of 1.19 and a debt-to-equity ratio of 4.02. The firm has a market capitalization of $49.43 million, a PE ratio of -0.75 and a beta of 1.51. The firm’s 50 day simple moving average is $3.31 and its 200 day simple moving average is $4.25.

Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings results on Monday, June 15th. The communications equipment provider reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. Comtech Telecommunications had a negative net margin of 5.52% and a positive return on equity of 9.77%. The firm had revenue of $106.00 million during the quarter, compared to analyst estimates of $110.20 million. As a group, analysts expect that Comtech Telecommunications will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QVT Financial LP lifted its stake in Comtech Telecommunications by 41.4% during the fourth quarter. QVT Financial LP now owns 1,392,352 shares of the communications equipment provider’s stock worth $6,997,000 after purchasing an additional 407,998 shares during the last quarter. Potomac Capital Management Inc. purchased a new position in shares of Comtech Telecommunications during the 4th quarter valued at about $851,000. Royce & Associates LP lifted its position in Comtech Telecommunications by 2.5% in the 4th quarter. Royce & Associates LP now owns 1,631,098 shares of the communications equipment provider’s stock worth $8,629,000 after buying an additional 40,400 shares during the last quarter. Cetera Investment Advisers grew its position in Comtech Telecommunications by 80.6% during the first quarter. Cetera Investment Advisers now owns 40,962 shares of the communications equipment provider’s stock valued at $136,000 after acquiring an additional 18,287 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Comtech Telecommunications during the fourth quarter worth approximately $26,000.

About Comtech Telecommunications

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.