Castellum, Inc. (NYSEAMERICAN:CTM) Stock Position Lessened by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp has reduced its stake in Castellum, Inc. by 51.1%, selling over 627,822 shares and now holding about 0.86% of the company.
• Analysts from Maxim Group set a target price of $3.00 and gave Castellum a "buy" rating; UBS upgraded its rating from "strong sell" to "hold."
• Insider trading activity includes General Counsel Jay O. Wright selling 259,400 shares and Director Mark C. Fuller selling 500,000 shares, indicating notable reductions in their ownership stakes.

Bank of New York Mellon Corp reduced its holdings in shares of Castellum, Inc. (NYSEAMERICAN:CTM - Free Report) by 51.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 600,002 shares of the company's stock after selling 627,822 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.86% of Castellum worth $636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CTM. Inscription Capital LLC bought a new position in shares of Castellum in the first quarter valued at approximately $265,000. Geode Capital Management LLC lifted its stake in Castellum by 49.9% in the 4th quarter. Geode Capital Management LLC now owns 299,643 shares of the company's stock worth $599,000 after purchasing an additional 99,714 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Castellum by 2,180.2% in the 4th quarter. Jane Street Group LLC now owns 449,001 shares of the company's stock valued at $898,000 after purchasing an additional 429,310 shares during the period. Hedge funds and other institutional investors own 3.39% of the company's stock.

Insider Activity at Castellum

In other Castellum news, Director Mark C. Fuller sold 500,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $1.05, for a total transaction of $525,000.00. Following the completion of the sale, the director directly owned 6,613,659 shares of the company's stock, valued at $6,944,341.95. This represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jay O. Wright sold 259,400 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $1.07, for a total value of $277,558.00. Following the completion of the sale, the general counsel directly owned 9,023,673 shares of the company's stock, valued at approximately $9,655,330.11. This trade represents a 2.79% decrease in their position. The disclosure for this sale can be found here. 29.79% of the stock is currently owned by insiders.

Castellum Stock Performance

CTM traded down $0.02 on Wednesday, reaching $1.19. 822,606 shares of the stock were exchanged, compared to its average volume of 3,778,000. The company's 50-day moving average price is $1.17 and its 200 day moving average price is $1.06. The firm has a market capitalization of $101.96 million, a PE ratio of -10.77 and a beta of -10.00. Castellum, Inc. has a fifty-two week low of $0.13 and a fifty-two week high of $2.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.92 and a quick ratio of 2.92.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Maxim Group set a $3.00 target price on Castellum and gave the stock a "buy" rating in a research note on Thursday, April 24th. UBS Group raised shares of Castellum from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 23rd.

Castellum Company Profile

Castellum, Inc provides services in the areas of cybersecurity, information technology, electronic and information warfare, and information operations. Its services include intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity and policy support, data analytics, and model based systems engineering services.