Short Interest in COMSovereign Holding Corp. (NASDAQ:COMS) Decreases By 31.0%

COMSovereign Holding Corp. (NASDAQ:COMSGet Rating) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 752,300 shares, a drop of 31.0% from the April 15th total of 1,090,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 713,800 shares, the short-interest ratio is presently 1.1 days.

Separately, Zacks Investment Research upgraded COMSovereign from a “sell” rating to a “hold” rating in a research note on Tuesday, March 15th.

Shares of COMS stock traded down $0.01 during trading hours on Tuesday, hitting $0.27. The stock had a trading volume of 115,105 shares, compared to its average volume of 711,867. COMSovereign has a one year low of $0.23 and a one year high of $2.74. The company has a current ratio of 0.97, a quick ratio of 0.51 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $0.57 and its two-hundred day moving average price is $0.74.

Large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in COMSovereign by 540.5% in the third quarter. BlackRock Inc. now owns 130,767 shares of the company’s stock worth $210,000 after buying an additional 110,351 shares in the last quarter. Geode Capital Management LLC boosted its holdings in COMSovereign by 5.8% in the third quarter. Geode Capital Management LLC now owns 356,437 shares of the company’s stock valued at $573,000 after purchasing an additional 19,433 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of COMSovereign during the 3rd quarter worth about $30,000. Renaissance Technologies LLC purchased a new stake in shares of COMSovereign during the 4th quarter worth about $232,000. Finally, State Street Corp raised its position in shares of COMSovereign by 119.3% during the 4th quarter. State Street Corp now owns 128,500 shares of the company’s stock worth $97,000 after purchasing an additional 69,900 shares during the last quarter. Institutional investors and hedge funds own 7.54% of the company’s stock.

About COMSovereign (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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