COMSovereign Holding Corp. (NASDAQ:COMS – Get Rating) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 3,510,000 shares, a drop of 18.4% from the September 30th total of 4,300,000 shares. Based on an average daily trading volume, of 18,330,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 5.0% of the company's stock are short sold.
Hedge Funds Weigh In On COMSovereign
Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC bought a new position in shares of COMSovereign in the second quarter valued at $62,000. Virtu Financial LLC acquired a new stake in COMSovereign during the 2nd quarter valued at $33,000. Carnegie Capital Asset Management LLC acquired a new stake in COMSovereign during the 2nd quarter valued at $66,000. Finally, Buckingham Strategic Partners acquired a new stake in COMSovereign during the 1st quarter valued at $2,214,000. 6.85% of the stock is owned by institutional investors.
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COMSovereign Stock Performance
Shares of NASDAQ:COMS remained flat at $0.06 during midday trading on Friday. 24,847,489 shares of the company traded hands, compared to its average volume of 53,916,544. COMSovereign has a twelve month low of $0.04 and a twelve month high of $1.60. The business has a 50 day moving average of $0.09 and a 200-day moving average of $0.19.
COMSovereign Company Profile
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COMSovereign Holding Corp. provides technologically-advanced telecom solutions for network operators, mobile device carriers, governmental units, and other enterprises worldwide. The company offers packet microwave solutions that transmit broadband voice, video, and data, as well as enable service providers, government agencies, enterprises, and other organizations; and in-band full-duplex technologies that alleviate the performance limitations of the principal transmission technologies.
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