Connectm Technology Solutions Inc. (NASDAQ:CNTM) Sees Large Decrease in Short Interest

Connectm Technology Solutions Inc. (NASDAQ:CNTM) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 389,100 shares, a decline of 10.3% from the September 30th total of 433,900 shares. Based on an average daily volume of 786,100 shares, the short-interest ratio is currently 0.5 days. Approximately 2.7% of the company’s stock are sold short.

Insider Transactions at Connectm Technology Solutions

In related news, insider Mahesh Choudhury purchased 69,542 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $0.89 per share, for a total transaction of $61,892.38. Following the completion of the purchase, the insider now directly owns 69,542 shares of the company’s stock, valued at approximately $61,892.38. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 128,072 shares of company stock valued at $159,820,735. Insiders own 21.17% of the company’s stock.

Institutional Trading of Connectm Technology Solutions

A hedge fund recently bought a new stake in Connectm Technology Solutions stock. Brighton Jones LLC acquired a new position in shares of Connectm Technology Solutions Inc. (NASDAQ:CNTM) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 273,842 shares of the company’s stock, valued at approximately $315,000. Brighton Jones LLC owned 11.91% of Connectm Technology Solutions at the end of the most recent quarter. Hedge funds and other institutional investors own 79.59% of the company’s stock.

Connectm Technology Solutions Price Performance

CNTM opened at $0.97 on Wednesday. The firm has a market capitalization of $2.23 million, a PE ratio of -416.65 and a beta of 0.09. Connectm Technology Solutions has a one year low of $0.67 and a one year high of $12.47. The business’s 50-day moving average price is $1.05.

Connectm Technology Solutions (NASDAQ:CNTM) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.15 earnings per share for the quarter.

Connectm Technology Solutions Company Profile

ConnectM Technology Solutions, Inc, a technology company, focuses on advancing the electrification economy by integrating electrified energy assets with its AI-driven technology solutions platform. It provides residential and light commercial buildings, and all-electric original equipment manufacturers with a platform to accelerate the transition to solar and all-electric heating, cooling, and transportation.