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Comtech Telecommunications Corp. (NASDAQ:CMTL) experienced a significant decline in short interest during the month of July. As of July 31st, there were 220,400 shares sold short, a decrease of 5.9% from the total on July 15th, which was 234,300 shares. The short-interest ratio, based on the average daily volume of 363,700 shares, is currently 0.6 days. Currently, 0.9% of the stock’s shares are sold short.

In insider activity news, Director Mark R. Quinlan purchased 100,000 shares of Comtech Telecommunications stock on June 21st. The average cost per share was .89, bringing the total transaction value to 9,000. After this purchase, the director now owns 347,639 shares in the company, valued at approximately ,090,510.71. CFO Michael Bondi also acquired 5,000 shares of the stock on June 13th at an average cost of .29 per share, totaling ,450.00. Following this transaction, the CFO now owns 58,795 shares of the company’s stock, valued at approximately 6,205.55. In the last quarter, insiders acquired a total of 115,133 shares of company stock worth ,029,178. Corporate insiders now hold a 4.40% stake in the company.

Regarding institutional investors, several hedge funds have recently bought and sold shares of CMTL. BlackRock Inc. increased its holdings by 0.9%, now owning 4,305,845 shares of the stock. Vanguard Group Inc. boosted its holdings by 11.4%, now owning 1,861,239 shares. Dimensional Fund Advisors LP, State Street Corp, and Royce & Associates LP have also increased their holdings in the company. Overall, 74.26% of the stock is currently held by institutional investors and hedge funds.

As of Thursday, the stock opened at .20. It has a market capitalization of 6.53 million and a P/E ratio of -7.19. The company’s 1-year low is .31 and the 1-year high is .87. Comtech Telecommunications reported earnings per share of ({TRESC}.33) for the last quarter, below the consensus estimate of {TRESC}.16. The firm generated revenue of 6.32 million for the quarter, slightly surpassing the consensus estimate of 5.85 million. Analysts predict that Comtech Telecommunications will post earnings per share of 0.25 for the current year.

According to recent analyst reports, StockNews.com issued a “sell” rating on CMTL stock. Citigroup also reduced their target price on the stock from .00 to .00.

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