Castellum (NYSEAMERICAN:CTM) Downgraded by Zacks Research to Strong Sell

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

Castellum Price Performance

NYSEAMERICAN CTM opened at $0.50 on Tuesday. The firm has a market capitalization of $47.48 million, a P/E ratio of -16.66 and a beta of -6.32. Castellum has a 1-year low of $0.34 and a 1-year high of $1.24. The business’s 50-day simple moving average is $0.57 and its 200-day simple moving average is $0.70.

Castellum (NYSEAMERICAN:CTM) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Castellum had a negative return on equity of 8.75% and a negative net margin of 5.69%. The company had revenue of $14.70 million for the quarter, compared to analyst estimates of $14.90 million. On average, equities research analysts expect that Castellum will post -0.04 EPS for the current fiscal year.

Castellum announced that its board has initiated a stock buyback program on Monday, November 9th that permits the company to buy back $6 million in outstanding shares. This buyback authorization permits the company to repurchase up to 12.9% of its stock through open market purchases. Share buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Castellum

In other Castellum news, COO Andrew Merriman bought 50,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $0.62 per share, with a total value of $31,000.00. Following the completion of the transaction, the chief operating officer owned 588,531 shares in the company, valued at $364,889.22. The trade was a 9.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 54,492 shares of company stock worth $33,426 in the last three months. 8.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Castellum

A hedge fund recently raised its position in Castellum stock. Two Sigma Securities LLC grew its holdings in shares of Castellum, Inc. (NYSEAMERICAN:CTM) by 166.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,530 shares of the company’s stock after buying an additional 25,308 shares during the quarter. Two Sigma Securities LLC’s holdings in Castellum were worth $29,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.