Comtech Telecommunications (NASDAQ:CMTL) Price Target Cut to $9.25 by Analysts at B. Riley

Comtech Telecommunications (NASDAQ:CMTL) had its price target reduced by analysts at B. Riley from $12.25 to $9.25 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s price objective would suggest a potential upside of 255.77% from the stock’s current price.

Comtech Telecommunications Trading Down 10.7 %

NASDAQ:CMTL traded down $0.31 during midday trading on Monday, hitting $2.60. 829,082 shares of the company traded hands, compared to its average volume of 1,020,288. The firm has a market capitalization of $75.05 million, a P/E ratio of -0.55, a P/E/G ratio of 1.32 and a beta of 1.62. The firm’s fifty day moving average is $3.75 and its 200-day moving average is $3.06. Comtech Telecommunications has a 12-month low of $1.53 and a 12-month high of $12.99. The company has a current ratio of 1.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Comtech Telecommunications

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Comtech Telecommunications by 8.2% during the first quarter. Empowered Funds LLC now owns 76,370 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 5,765 shares during the period. Vanguard Group Inc. grew its position in Comtech Telecommunications by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,455,621 shares of the communications equipment provider’s stock valued at $4,993,000 after acquiring an additional 10,111 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Comtech Telecommunications in the second quarter worth $174,000. Virtu Financial LLC purchased a new stake in shares of Comtech Telecommunications during the first quarter valued at $81,000. Finally, AQR Capital Management LLC grew its holdings 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 worth $629,000 after purchasing an additional 98,479 shares during the last quarter.

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.