Connectm Technology Solutions (NASDAQ:CNTM) Shares Down 9.9% – Should You Sell?

Connectm Technology Solutions Inc. (NASDAQ:CNTM) shares were down 9.9% during trading on Tuesday . The stock traded as low as $0.97 and last traded at $1.00. Approximately 127,841 shares traded hands during 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 Price Performance

The company’s 50-day moving average price is $0.96.

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

Insider Buying and Selling

In other Connectm Technology Solutions news, insider Mahesh Choudhury bought 27,800 shares of the company’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $1.09 per share, for a total transaction of $30,302.00. Following the acquisition, the insider now directly owns 259,768 shares in the company, valued at approximately $283,147.12. The trade was a 11.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 33.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Connectm Technology Solutions

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

Connectm Technology Solutions Company Profile

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.