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

Connectm Technology Solutions Inc. (NASDAQ:CNTM) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 415,000 shares, an increase of 12.0% from the August 31st total of 370,400 shares. Based on an average daily volume of 923,600 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.8% of the company’s shares are sold short.

Insider Buying and Selling

In other news, insider Mahesh Choudhury bought 69,542 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $0.89 per share, with a total value of $61,892.38. Following the completion of the acquisition, the insider now owns 69,542 shares of the company’s stock, valued at $61,892.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired a total of 128,072 shares of company stock worth $159,820,735 in the last 90 days. 21.17% of the stock is owned by company insiders.

Connectm Technology Solutions Price Performance

CNTM stock traded down $0.07 during trading on Tuesday, hitting $1.08. The company had a trading volume of 277,941 shares, compared to its average volume of 446,463. Connectm Technology Solutions has a 52-week low of $0.67 and a 52-week high of $12.47. The firm has a 50 day moving average of $1.05. The stock has a market cap of $22.76 million, a price-to-earnings ratio of -457.50 and a beta of 0.05.

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

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.