Today’s big question for investors is, “what’s going on with Comtech Telecommunications Corp. (NASDAQ:CMTL) stock? Its price is jumping 1.78 points, trading at $15.61 levels, and is up 12.87% from its previous close of $13.83. The shares seem to have an active trading volume day with a reported 322333 contracts so far this session. CMTL shares had a relatively better volume day versus average trading capacity of 280.48 thousand shares, but with a 24.09 million float and a -16.79% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CMTL stock indicates that the average analyst price target is $36.05 per share. This means the stock has a potential increase of 130.94% from where the CMTL share price has been trading recently.
During the recent trading session for Comtech Telecommunications Corp. (NASDAQ:CMTL), the company witnessed their stock rise $2.45 over a week and tumble down $-15.26 from the price 20 days ago. When compared to their established 52-week high of $38, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/12/19. The recent low of $12.45 stood for a -58.92% since 03/19/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.84 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Comtech Telecommunications Corp., the two-week RSI stands at 30.68. This figure suggests that CMTL stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CMTL readings is similarly very revealing as it has a stochastic reading of 12.78% at this stage. This figure means that CMTL share price today is being overbought.
Technical chart claims that Comtech Telecommunications Corp. (CMTL) would settle between $14.42/share to $15/share level. However, if the stock price goes below the $13.23 mark, then the market for Comtech Telecommunications Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $12.62 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.95. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup, assumed coverage of CMTL assigning Neutral rating, according to their opinion released on May 17. Citigroup, analysts launched coverage of Comtech Telecommunications Corp. (NASDAQ:CMTL) stock with a Neutral recommendation, according to their flash note issued to investors on August 24. Analysts at Jefferies, made their first call for the equity with a Hold recommendation, according to a research note that dated back to August 02.
CMTL equity has an average rating of 2.5, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Comtech Telecommunications Corp. (NASDAQ:CMTL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CMTL stock price is currently trading at 9.89X forward 12-month Consensus EPS estimates, and its P/E ratio is 14.4 while for the average stock in the same group, the multiple is 22.6. Comtech Telecommunications Corp. current P/B ratio of 0.6 means it is trading at a discount against its industry’s 2.8.