Connectm Technology Solutions Inc. (NASDAQ:CNTM) Short Interest Up 12.0% in September

Connectm Technology Solutions Inc. (NASDAQ:CNTM) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 415,000 shares, a growth of 12.0% from the August 31st total of 370,400 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 923,600 shares, the short-interest ratio is presently 0.4 days.

Connectm Technology Solutions Price Performance

Shares of NASDAQ CNTM traded down $0.07 during trading hours on Tuesday, hitting $1.08. The company had a trading volume of 277,941 shares, compared to its average volume of 446,463. The stock has a market capitalization of $22.76 million, a PE ratio of -457.50 and a beta of 0.05. Connectm Technology Solutions has a 1-year low of $0.67 and a 1-year high of $12.47. The firm’s 50 day moving average price is $1.05.

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

Insiders Place Their Bets

In other Connectm Technology Solutions news, insider Mahesh Choudhury purchased 42,400 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average cost of $0.95 per share, with a total value of $40,280.00. Following the completion of the acquisition, the insider now directly owns 148,138 shares of the company’s stock, valued at approximately $140,731.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 128,072 shares of company stock worth $159,820,735 over the last 90 days. Corporate insiders own 21.17% of the company’s stock.

About Connectm Technology Solutions

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.