Connectm Technology Solutions Inc. (NASDAQ:CNTM) Sees Large Growth in Short Interest

Connectm Technology Solutions Inc. (NASDAQ:CNTM) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 337,900 shares, a growth of 149.4% from the January 31st total of 135,500 shares. Based on an average daily volume of 354,500 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.1% of the shares of the stock are sold short.

Insider Activity at Connectm Technology Solutions

In related news, insider Mahesh Choudhury bought 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 completion of the purchase, the insider now directly owns 259,768 shares of the company’s stock, valued at $283,147.12. This trade represents a 11.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 33.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of Connectm Technology Solutions in the fourth quarter worth approximately $27,000. Choate Investment Advisors lifted its stake in Connectm Technology Solutions by 39.3% in the fourth quarter. Choate Investment Advisors now owns 98,820 shares of the company’s stock worth $120,000 after acquiring an additional 27,880 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Connectm Technology Solutions in the third quarter worth $172,000. Finally, Toronto Dominion Bank purchased a new stake in Connectm Technology Solutions in the fourth quarter worth $609,000. Institutional investors own 79.59% of the company’s stock.

Connectm Technology Solutions Trading Up 4.4 %

Shares of NASDAQ CNTM opened at $0.71 on Friday. Connectm Technology Solutions has a one year low of $0.60 and a one year high of $12.47. The firm’s 50 day simple moving average is $1.07 and its two-hundred day simple moving average is $1.01.

Connectm Technology Solutions (NASDAQ:CNTM) last issued its quarterly earnings results on Friday, December 13th. The company reported ($0.61) EPS for the quarter. During the same quarter last year, the company posted ($0.12) EPS.

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.