Short Interest in Connectm Technology Solutions Inc. (NASDAQ:CNTM) Drops By 12.9%

Connectm Technology Solutions Inc. (NASDAQ:CNTM) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 339,100 shares, a drop of 12.9% from the October 15th total of 389,100 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 671,500 shares, the short-interest ratio is presently 0.5 days.

Connectm Technology Solutions Stock Up 4.2 %

NASDAQ:CNTM traded up $0.04 on Monday, reaching $1.00. The company’s stock had a trading volume of 302,592 shares, compared to its average volume of 391,733. Connectm Technology Solutions has a 12-month low of $0.67 and a 12-month high of $12.47. The company has a 50 day moving average of $1.03.

Insider Buying and Selling at Connectm Technology Solutions

In other news, insider Mahesh Choudhury bought 1,300 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of $1,391.00 per share, for a total transaction of $1,808,300.00. Following the completion of the transaction, the insider now directly owns 164,038 shares in the company, valued at $228,176,858. The trade was a 0.80 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have acquired 128,072 shares of company stock valued at $159,820,735. Company insiders own 33.97% of the company’s stock.

Institutional Investors Weigh In On Connectm Technology Solutions

An institutional investor recently bought a new position in Connectm Technology Solutions stock. Brighton Jones LLC bought a new stake in Connectm Technology Solutions Inc. (NASDAQ:CNTM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 273,842 shares of the company’s stock, valued at approximately $315,000. Brighton Jones LLC owned 11.91% of Connectm Technology Solutions as of its most recent SEC filing. 79.59% of the stock is owned by hedge funds and other institutional investors.

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.