BlackRock Fund Advisors has recently announced that it has increased stake in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 0.72%. After grabbing 4.04 million shares, the institutional investor is now in possession of 28730.0 shares of the Technology Company. The new investment brought the stake of investor firm to 14.60% having worth around $47.17 million. Moreover, Cooper Creek Partners Management increased its share by 49222.0 to have a control over 1.9 million shares. And The Vanguard Group, Inc. raised its holdings to 0.19 million shares by acquiring 1.82 million shares or 6.58% of the stake.
Comtech Telecommunications Corp. (CMTL) concluded trading on 01/12/23 at a closing price of $13.11, with 0.57 million shares of worth about $7.51 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 39.77% during that period and on Thursday the price saw a gain of about 1.86%. Currently the company’s common shares owned by public are about 27.83M shares, out of which, 26.57M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 73 times over the past 12 months. They bought 286,361 shares in 35 of the transactions. In 38 selling transactions, insiders dumped 144,641 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Comtech Telecommunications Corp. iShares Core S&P Small Cap ETF is currently holding 2.05 million shares of worth totaling $23.89 million. The company recently came buying 780.0 shares which brought its stake up to 7.40% of the company’s outstanding shares. iShares Russell 2000 ETF, after buying 0.58 million shares, have now control over 2.09% of the stake in the company. It holds 1176.0 shares of worth $6.75 million.
Comtech Telecommunications Corp. (NASDAQ: CMTL) started trading at $12.99, above $0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 13.42, or with a gain of 1.86%. Stock saw a price change of 6.50% in past 5 days and over the past one month there was a price change of -2.24%. Year-to-date (YTD), CMTL shares are showing a performance of 7.99% which decreased to -43.66% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.42 but also hit the highest price of $23.67 during that period. The average intraday trading volume for Comtech Telecommunications Corp. shares is 155.90K. The stock is currently trading 5.71% above its 20-day simple moving average (SMA20), while that difference is up 9.45% for SMA50 and it goes to 12.00% higher than SMA200.
BlackRock Fund Advisors acquired 4.04 million shares of Comtech Telecommunications Corp. having value of about $47.17 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 28730.0 shares in the company valued at close to $376650.3, or have control over 0.72% stake in the company. Comtech Telecommunications Corp. (NASDAQ: CMTL) currently have 27.83M outstanding shares and institutions hold larger chunk of about 75.30% of that. Holding of mutual funds in the company is about 45.31% while other institutional holders and individual stake holders have control over 6.16% and 28.21% of the stake respectively.
The stock has a current market capitalization of $359.21M and its 3Y-monthly beta is at 1.64. It has posted earnings per share of -$1.67 in the same period. It has Quick Ratio of 0.90 while making debt-to-equity ratio of 0.33. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CMTL, volatility over the week remained 3.73% while standing at 3.50% over the month.
Analysts are in expectations that Comtech Telecommunications Corp. (CMTL) stock would likely to be making an EPS of -$0.1 in the current quarter, while forecast for next quarter EPS is -$0.05 and it is -$0.09 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.14 which is -$0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.43 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 42.90% while it is estimated to increase by 87.10% in next year. EPS is likely to grow at an annualized rate of 17.00% for next 5-years, compared to annual growth of -34.60% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on June 15, 2022 offering a Hold rating for the stock and assigned a target price range of between $32 and $10 to it. Coverage by Noble Capital Markets stated Comtech Telecommunications Corp. (CMTL) stock as an Outperform in their note to investors on June 13, 2022, suggesting a price target of $12 for the stock. On October 05, 2021, Noble Capital Markets Downgrade their recommendations, while on December 17, 2020, Jefferies Upgrade their ratings for the stock with a price target of $27. Stock get a Neutral rating from Citigroup on May 17, 2018.
