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

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

Connectm Technology Solutions Stock Performance

Shares of Connectm Technology Solutions stock traded up $0.04 on Monday, hitting $1.00. The stock had a trading volume of 302,592 shares, compared to its average volume of 391,733. Connectm Technology Solutions has a 52-week low of $0.67 and a 52-week high of $12.47. The business has a 50 day moving average price of $1.03.

Insider Activity

In other Connectm Technology Solutions news, insider Mahesh Choudhury acquired 1,300 shares of the stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $1,391.00 per share, with a total value of $1,808,300.00. Following the transaction, the insider now owns 164,038 shares in the company, valued at $228,176,858. The trade was a 0.80 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 128,072 shares of company stock valued at $159,820,735. 33.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Connectm Technology Solutions

An institutional investor recently bought a new position in Connectm Technology Solutions stock. Polar Asset Management Partners Inc. bought a new position in shares of Connectm Technology Solutions Inc. (NASDAQ:CNTM) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 149,200 shares of the company’s stock, valued at approximately $172,000. Polar Asset Management Partners Inc. owned 0.71% of Connectm Technology Solutions at the end of the most recent quarter. Institutional investors own 79.59% of the company’s stock.

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.