Choate Investment Advisors Buys 27,880 Shares of Connectm Technology Solutions Inc. (NASDAQ:CNTM)

Choate Investment Advisors boosted its stake in shares of Connectm Technology Solutions Inc. (NASDAQ:CNTM) by 39.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 98,820 shares of the company’s stock after purchasing an additional 27,880 shares during the quarter. Choate Investment Advisors’ holdings in Connectm Technology Solutions were worth $120,000 as of its most recent SEC filing.

Separately, Polar Asset Management Partners Inc. acquired a new stake in Connectm Technology Solutions in the third quarter worth about $172,000. Institutional investors and hedge funds own 79.59% of the company’s stock.

Insiders Place Their Bets

In other Connectm Technology Solutions news, insider Mahesh Choudhury purchased 27,800 shares of the stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $1.09 per share, with a total value of $30,302.00. Following the completion of the acquisition, the insider now owns 259,768 shares in the company, valued at $283,147.12. The trade was a 11.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 33.97% of the company’s stock.

Connectm Technology Solutions Price Performance

Shares of NASDAQ CNTM opened at $0.64 on Tuesday. The business has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $0.98. Connectm Technology Solutions Inc. has a fifty-two week low of $0.47 and a fifty-two week high of $2.89.

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

Connectm Technology Solutions declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to repurchase up to 68,301.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.