Archon Capital Management LLC recently announced the acquisition of new stake in Comtech Telecommunications Corp. (NASDAQ:CMTL). The institutional investor has increased its shareholding in the Technology company by 1.18% to 1.51 million shares with purchase of 17524.0 shares. This fresh investment now brings its stake to 5.34% valued currently at $17.78 million. In addition, Freshford Capital Management LLC raised its holdings by 94516.0 to 1.38 million shares. And The Vanguard Group, Inc. has lifted its position by 1.66% or 22406.0 shares – to 1.37 million shares.
With over 0.5 million Comtech Telecommunications Corp. (CMTL) shares trading Friday and a closing price of $8.27 on the day, the dollar volume was approximately $4.11 million. The shares have shown a negative half year performance of -11.83% and its price on 12/22/23 gained nearly 6.30%. Currently, there are 28.06M common shares owned by the public and among those 26.45M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for CMTL have a consensus price objective of $16.94. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $7.50. The average price target is 51.18% above its recent price level and a downside to the estimated low will see the stock lose -10.27% over that period. But an upside of 62.41% will see the stock hit the forecast high price target while median target price for the stock is $19.13.
Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 58 of these insider trades were purchases, accounting for 265,721 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 48,077 shares.
The top 3 mutual fund holders in Comtech Telecommunications Corp. are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Royce Small-Cap Opportunity Fund. Vanguard Total Stock Market ETF owns 0.86 million shares of the company’s stock, all valued at over $10.18 million. iShares Russell 2000 ETF bought 327.0 shares to see its total holdings expand to 0.67 million shares valued at over $7.87 million and representing 2.36% of the shares outstanding. Royce Small-Cap Opportunity Fund bought 86390.0 shares to bring its total holdings to over 0.6 million shares at a value of $7.06 million. Royce Small-Cap Opportunity Fund now owns shares totaling to 2.12% of the shares outstanding.
Shares of Comtech Telecommunications Corp. (NASDAQ: CMTL) opened at $7.82, up $0.04 from a prior closing price of $7.78. However, the script later moved the day high at 8.30, up 6.30%. The company’s stock has a 5-day price change of 4.42% and -2.71% over the past three months. CMTL shares are trading -31.88% year to date (YTD), with the 12-month market performance down to -34.10% lower. It has a 12-month low price of $7.26 and touched a high of $16.87 over the same period. CMTL has an average intraday trading volume of 302.85K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -17.09%, -24.44%, and -20.51% respectively.
Institutional ownership of Comtech Telecommunications Corp. (NASDAQ: CMTL) shares accounts for 70.20% of the company’s 28.06M shares outstanding. Mutual fund holders own 39.22%, while other institutional holders and individual stakeholders account for 6.97% and 31.84% respectively.
It has a market capitalization of $235.53M and a beta (3y monthly) value of 1.47. The earnings-per-share (ttm) stands at -$0.87. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.94% over the week and 6.44% over the month.
Analysts forecast that Comtech Telecommunications Corp. (CMTL) will achieve an EPS of $0.22 for the current quarter, $0.25 for the next quarter and $1.36 for 2025. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.28. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 90.63%, and 644.12% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Comtech Telecommunications Corp. (CMTL) as a “Moderate Buy” at a consensus score of 2.33. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the CMTL, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on December 15, 2023, with the firm’s price target at $18.25.
