Castellum (NYSEAMERICAN:CTM) Stock Rating Lowered by Zacks Research

Castellum (NYSEAMERICAN:CTM) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Castellum Price Performance

Shares of CTM opened at $0.50 on Tuesday. The business’s fifty day moving average price is $0.57 and its 200 day moving average price is $0.70. Castellum has a 12-month low of $0.34 and a 12-month high of $1.24. The stock has a market capitalization of $47.48 million, a PE ratio of -16.66 and a beta of -6.32.

Castellum (NYSEAMERICAN:CTM) last released its earnings results on Thursday, November 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Castellum had a negative net margin of 5.69% and a negative return on equity of 8.75%. The business had revenue of $14.70 million for the quarter, compared to the consensus estimate of $14.90 million. As a group, research analysts anticipate that Castellum will post -0.04 earnings per share for the current fiscal year.

Castellum declared that its board has initiated a share buyback program on Monday, November 9th that allows the company to buy back $6 million in shares. This repurchase authorization allows the company to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Castellum

In other Castellum news, COO Andrew Merriman purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average cost of $0.62 per share, with a total value of $31,000.00. Following the acquisition, the chief operating officer owned 588,531 shares of the company’s stock, valued at approximately $364,889.22. This represents a 9.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 54,492 shares of company stock valued at $33,426. Insiders own 8.41% of the company’s stock.

Institutional Investors Weigh In On Castellum

An institutional investor recently raised its position in Castellum stock. Two Sigma Securities LLC increased its holdings in shares of Castellum, Inc. (NYSEAMERICAN:CTM) by 166.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,530 shares of the company’s stock after acquiring an additional 25,308 shares during the quarter. Two Sigma Securities LLC’s holdings in Castellum were worth $29,000 at the end of the most recent quarter. Institutional investors own 3.39% of the company’s stock.

About Castellum

Castellum, Inc. is a U.S.-based technology and defense contractor that provides cybersecurity, intelligence, information technology and engineering services. The company primarily serves federal government customers, including agencies and organizations involved in defense, national security and critical infrastructure. Its offerings include cybersecurity assessments and operations, network and information technology support, intelligence analysis, electronic warfare capabilities, systems engineering and mission-support services.