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

Zacks Research downgraded shares of Castellum (NYSEAMERICAN:CTM) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks reports.

Castellum Stock Performance

Shares of CTM stock opened at $0.50 on Tuesday. The stock has a market capitalization of $47.48 million, a price-to-earnings ratio of -16.66 and a beta of -6.32. Castellum has a one year low of $0.34 and a one year high of $1.24. The company’s 50-day simple moving average is $0.57 and its 200-day simple moving average is $0.70.

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

Castellum announced that its board has authorized a stock repurchase plan on Monday, November 9th that allows the company to repurchase $6 million in outstanding shares. This buyback authorization allows the company to buy up to 12.9% of its shares through open market purchases. Stock buyback plans are usually a sign 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 on Wednesday, September 9th. The shares were bought at an average cost of $0.62 per share, with a total value of $31,000.00. Following the completion of the acquisition, the chief operating officer owned 588,531 shares of the company’s stock, valued at approximately $364,889.22. This trade represents a 9.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 54,492 shares of company stock worth $33,426 over the last 90 days. 8.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Castellum stock. Two Sigma Securities LLC lifted its holdings in shares of Castellum, Inc. (NYSEAMERICAN:CTM) by 166.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,530 shares of the company’s stock after buying an additional 25,308 shares during the period. Two Sigma Securities LLC’s holdings in Castellum were worth $29,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.39% of the company’s stock.

Castellum Company Profile

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.