Comtech Telecommunications (NASDAQ:CMTL) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Comtech Telecommunications (NASDAQ:CMTL) to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Comtech Telecommunications in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Comtech Telecommunications Price Performance

Comtech Telecommunications stock opened at $2.90 on Wednesday. The business has a fifty day moving average price of $2.87 and a 200-day moving average price of $2.41. Comtech Telecommunications has a 1-year low of $1.19 and a 1-year high of $4.88. The stock has a market capitalization of $85.87 million, a price-to-earnings ratio of -0.29 and a beta of 1.33.

Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings results on Wednesday, June 21st. The communications equipment provider reported $0.25 EPS for the quarter. Comtech Telecommunications had a negative return on equity of 15.38% and a negative net margin of 51.28%.The company had revenue of $122.12 million during the quarter. Comtech Telecommunications has set its FY 2023 guidance at EPS. On average, equities research analysts anticipate that Comtech Telecommunications will post -2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comtech Telecommunications

Several hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP raised its stake in shares of Comtech Telecommunications by 19.4% during the 1st quarter. Royce & Associates LP now owns 1,582,138 shares of the communications equipment provider’s stock valued at $2,531,000 after buying an additional 256,530 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of Comtech Telecommunications by 7.5% in the first quarter. Pacific Ridge Capital Partners LLC now owns 494,174 shares of the communications equipment provider’s stock worth $791,000 after buying an additional 34,544 shares during the last quarter. QVT Financial LP grew its holdings in Comtech Telecommunications by 16.5% during the first quarter. QVT Financial LP now owns 705,773 shares of the communications equipment provider’s stock worth $1,129,000 after acquiring an additional 100,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Comtech Telecommunications during the first quarter valued at approximately $59,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Comtech Telecommunications by 86.8% in the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock valued at $71,000 after acquiring an additional 20,726 shares during the period.

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.