Castellum (NYSEAMERICAN:CTM) Declares Share Repurchase Program

Castellum (NYSEAMERICAN:CTM) declared that its board has initiated a share repurchase plan on Monday, November 9th, RTT News reports. The company plans to buy back $6 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 12.9% of its shares through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Zacks Research raised Castellum to a “hold” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Castellum Trading Up 11.0%

Shares of CTM stock opened at $0.50 on Thursday. 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 12-month low of $0.34 and a 12-month high of $1.24. The stock’s 50-day moving average price is $0.57 and its 200-day moving average price is $0.70.

Castellum (NYSEAMERICAN:CTM) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The firm had revenue of $14.70 million for the quarter, compared to the consensus estimate 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 predict that Castellum will post -0.04 EPS for the current fiscal year.

Insider Activity

In other news, COO Andrew Merriman acquired 50,000 shares of the firm’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 acquisition, the chief operating officer directly owned 588,531 shares of the company’s stock, valued at approximately $364,889.22. The trade was a 9.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 54,492 shares of company stock worth $33,426. 8.41% of the stock is owned by corporate insiders.

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.