Castellum (NYSEAMERICAN:CTM) Stock Falls 3.9% - What's Next?

Key Points

• Castellum shares fell 3.9% to $0.5640, with trading volume slightly below average. The company has a $53.46 million market capitalization, and its stock remains below both its 50-day and 200-day moving averages.
• Castellum’s latest quarterly results missed expectations, reporting a $0.01 per-share loss versus an expected $0.01 profit and revenue of $13.86 million compared with the $16 million consensus estimate.
• Analyst sentiment remains neutral, with Zacks Research upgrading the stock to “Hold.” Meanwhile, Castellum’s COO bought 50,000 shares, while institutional investors own only 3.39% of the company.

Castellum, Inc. (NYSEAMERICAN:CTM - Get Free Report)'s share price was down 3.9% during trading on Thursday. The stock traded as low as $0.5610 and last traded at $0.5640. Approximately 323,486 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 360,108 shares. The stock had previously closed at $0.5868.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Castellum to a "hold" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has an average rating of "Hold".

Castellum Stock Performance

The company has a market cap of $53.46 million, a price-to-earnings ratio of -28.20 and a beta of -6.53. The company's 50 day moving average price is $0.61 and its 200 day moving average price is $0.67.

Castellum (NYSEAMERICAN:CTM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.02). The firm had revenue of $13.86 million during the quarter, compared to analyst estimates of $16.00 million. Castellum had a negative return on equity of 6.32% and a negative net margin of 4.13%.

Insider Buying and Selling

In related news, COO Andrew Merriman purchased 50,000 shares of Castellum stock in a transaction on Wednesday, September 9th. The stock was purchased at an average cost of $0.62 per share, with a total value of $31,000.00. Following the acquisition, the chief operating officer directly owned 588,531 shares in the company, 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 filing with the SEC, which is accessible through this link. In the last ninety days, insiders have acquired 54,492 shares of company stock worth $33,426. 8.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Castellum stock. Two Sigma Securities LLC grew its stake in shares of Castellum, Inc. (NYSEAMERICAN:CTM - Free Report) by 166.3% in the second quarter, according to its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.39% of the company's stock.

About Castellum

Castellum, Inc is a U.S.-based government technology and professional services company that provides mission-critical solutions to federal agencies, the Department of Defense and other government customers. Its service offerings focus on cybersecurity, information technology, intelligence, engineering and electronic warfare.

The company supports government clients with services such as cyber operations, network and systems security, software and technology development, intelligence analysis, test and evaluation, and related technical consulting.

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