Short Interest in Connectm Technology Solutions Inc. (NASDAQ:CNTM) Expands By 12.0%

Connectm Technology Solutions Inc. (NASDAQ:CNTM) was the recipient of a large growth in short interest in the month of 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. Based on an average daily trading volume, of 923,600 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.8% of the shares of the company are short sold.

Connectm Technology Solutions Price Performance

Connectm Technology Solutions stock traded down $0.06 during trading on Friday, reaching $1.18. The company had a trading volume of 215,837 shares, compared to its average volume of 449,872. Connectm Technology Solutions has a 52 week low of $0.67 and a 52 week high of $12.47. The business’s 50-day moving average is $1.06. The stock has a market capitalization of $24.97 million, a price-to-earnings ratio of -496.01 and a beta of 0.05.

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

Insider Activity

In other news, insider Mahesh Choudhury purchased 11,500 shares of the stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of $13,731.00 per share, with a total value of $157,906,500.00. Following the acquisition, the insider now directly owns 202,038 shares of the company’s stock, valued at $2,774,183,778. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 128,072 shares of company stock valued at $159,820,735 in the last ninety days. 21.17% of the stock is currently owned by company insiders.

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.