Connectm Technology Solutions (NASDAQ:CNTM) Stock Price Down 9.9% – Time to Sell?

Connectm Technology Solutions Inc. (NASDAQ:CNTM) fell 9.9% during trading on Tuesday . The stock traded as low as $0.97 and last traded at $1.00. Approximately 127,841 shares changed hands during mid-day trading, an increase of 103% from the average daily volume of 62,968 shares. The stock had previously closed at $1.11.

Connectm Technology Solutions Trading Down 9.9 %

The business’s fifty day simple moving average is $0.96.

Connectm Technology Solutions (NASDAQ:CNTM) last released its quarterly earnings results on Friday, December 13th. The company reported ($0.61) earnings per share (EPS) for the quarter. During the same period in the prior year, the company earned ($0.12) EPS.

Insider Transactions at Connectm Technology Solutions

In other Connectm Technology Solutions news, insider Mahesh Choudhury acquired 27,800 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $1.09 per share, with a total value of $30,302.00. Following the transaction, the insider now owns 259,768 shares of the company’s stock, valued at $283,147.12. The trade was a 11.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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. Polar Asset Management Partners Inc. acquired a new stake in shares of Connectm Technology Solutions Inc. (NASDAQ:CNTM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 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. 79.59% of the stock is owned by hedge funds and other institutional investors.

About Connectm Technology Solutions

Connectm Technology Solutions, Inc is a technology company, which engages in the electrification economy by integrating electrified energy assets with an AI-driven technology solutions platform. It provides solutions for residential and light commercial buildings, and all-electric original equipment manufacturers (OEMs), with a proprietary digital platform to accelerate the transition to solar and all-electric heating, cooling, and transportation to reduce dependence on fossil fuels, overall energy costs, and carbon footprint.