Short Interest in Connectm Technology Solutions Inc. (NASDAQ:CNTM) Declines By 12.9%

Connectm Technology Solutions Inc. (NASDAQ:CNTM) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 339,100 shares, a drop of 12.9% from the October 15th total of 389,100 shares. Based on an average daily volume of 671,500 shares, the short-interest ratio is currently 0.5 days. Approximately 2.3% of the company’s shares are short sold.

Connectm Technology Solutions Price Performance

NASDAQ CNTM traded up $0.04 during trading on Friday, hitting $0.96. 112,272 shares of the company traded hands, compared to its average volume of 117,320. The business’s fifty day simple moving average is $1.03. Connectm Technology Solutions has a 12 month low of $0.67 and a 12 month high of $12.47.

Connectm Technology Solutions (NASDAQ:CNTM) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.15 EPS for the quarter.

Insider Buying and Selling

In other Connectm Technology Solutions news, insider Mahesh Choudhury purchased 42,400 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were bought at an average price of $0.95 per share, for a total transaction of $40,280.00. Following the purchase, the insider now directly owns 148,138 shares in the company, valued at $140,731.10. This trade represents a 40.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders bought 128,072 shares of company stock valued at $159,820,735. Company insiders own 33.97% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Connectm Technology Solutions stock. Brighton Jones LLC purchased a new stake in Connectm Technology Solutions Inc. (NASDAQ:CNTM) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 273,842 shares of the company’s stock, valued at approximately $315,000. Brighton Jones LLC owned about 11.91% of Connectm Technology Solutions as of its most recent filing with the Securities & Exchange Commission. 79.59% of the stock is owned by institutional investors.

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.