Potomac Capital Management Inc. purchased a new stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 160,912 shares of the communications equipment provider’s stock, valued at approximately $851,000.
Several other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Comtech Telecommunications by 11.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 77,256 shares of the communications equipment provider’s stock valued at $409,000 after purchasing an additional 7,786 shares in the last quarter. Geode Capital Management LLC boosted its position in Comtech Telecommunications by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 338,589 shares of the communications equipment provider’s stock valued at $1,792,000 after purchasing an additional 3,411 shares in the last quarter. Royce & Associates LP boosted its position in Comtech Telecommunications by 2.5% during the fourth quarter. Royce & Associates LP now owns 1,631,098 shares of the communications equipment provider’s stock valued at $8,629,000 after purchasing an additional 40,400 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Comtech Telecommunications during the third quarter valued at about $92,000. Finally, Susquehanna International Group LLP boosted its position in Comtech Telecommunications by 112.8% during the third quarter. Susquehanna International Group LLP now owns 44,786 shares of the communications equipment provider’s stock valued at $116,000 after purchasing an additional 23,738 shares in the last quarter.
Comtech Telecommunications Stock Down 6.9%
Comtech Telecommunications stock opened at $4.18 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.69 and a quick ratio of 1.23. The stock has a market capitalization of $124.27 million, a price-to-earnings ratio of -1.87 and a beta of 1.40. Comtech Telecommunications Corp. has a 1-year low of $1.71 and a 1-year high of $6.21. The business has a fifty day moving average price of $4.12 and a 200-day moving average price of $4.49.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.
Read Our Latest Stock Report on CMTL
Comtech Telecommunications Profile
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.
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