COMSovereign Holding Corp. (NASDAQ:COMS) Short Interest Update

COMSovereign Holding Corp. (NASDAQ:COMS – Get Rating) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 1,390,000 shares, an increase of 84.8% from the April 30th total of 752,300 shares. Based on an average daily volume of 683,700 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.7% of the company’s stock are sold short.

Separately, Zacks Investment Research raised shares of COMSovereign from a “sell” rating to a “hold” rating in a research report on Tuesday, March 15th.

Shares of COMS opened at $0.18 on Friday. The company has a 50 day moving average price of $0.50 and a 200-day moving average price of $0.68. COMSovereign has a fifty-two week low of $0.16 and a fifty-two week high of $2.74. The company has a quick ratio of 0.51, a current ratio of 0.97 and a debt-to-equity ratio of 0.13.

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of COMSovereign in the 3rd quarter worth approximately $30,000. State Street Corp lifted its position in COMSovereign by 119.3% during the fourth quarter. State Street Corp now owns 128,500 shares of the company’s stock valued at $97,000 after acquiring an additional 69,900 shares during the last quarter. BlackRock Inc. lifted its position in COMSovereign by 540.5% during the third quarter. BlackRock Inc. now owns 130,767 shares of the company’s stock valued at $210,000 after acquiring an additional 110,351 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in COMSovereign during the fourth quarter valued at approximately $232,000. Finally, Geode Capital Management LLC lifted its position in COMSovereign by 5.8% during the third quarter. Geode Capital Management LLC now owns 356,437 shares of the company’s stock valued at $573,000 after acquiring an additional 19,433 shares during the last quarter. 7.54% of the stock is owned by hedge funds and other institutional investors.

COMSovereign Company Profile (Get Rating)

ComSovereign Holding Corp. designs, develops, markets, and sells technologically-advanced telecom solutions for network operators, mobile device carriers, governmental units, and other enterprises worldwide. The company designs, manufactures, and sells microwave packet radio equipment, such as backhaul telecom radios that transmit broadband voice, video, and data, as well as enable service providers, government agencies, enterprises, and other organizations to meet their increasing bandwidth requirements rapidly and affordably; and in-band full-duplex and transpositional modulation technologies that alleviate the performance limitations of the principal transmission technologies.

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