Toronto Dominion Bank Takes $609,000 Position in Connectm Technology Solutions Inc. (NASDAQ:CNTM)

Toronto Dominion Bank bought a new stake in Connectm Technology Solutions Inc. (NASDAQ:CNTM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 503,113 shares of the company’s stock, valued at approximately $609,000.

Separately, XTX Topco Ltd acquired a new position in shares of Connectm Technology Solutions in the 4th quarter valued at about $27,000. 79.59% of the stock is currently owned by institutional investors and hedge funds.

Connectm Technology Solutions Trading Down 3.8%

Shares of CNTM opened at $0.20 on Friday. Connectm Technology Solutions Inc. has a fifty-two week low of $0.15 and a fifty-two week high of $2.89. The business’s 50-day moving average is $0.54 and its 200-day moving average is $0.80.

Connectm Technology Solutions declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 13th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 68,301.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Connectm Technology Solutions Profile

Connectm Technology Solutions, Inc is a technology company, which engages in the electrification economy by integrating electrified energy assets with an AI-driven technology solutions platform. It provides solutions for residential and light commercial buildings, and all-electric original equipment manufacturers (OEMs), with a proprietary digital platform to accelerate the transition to solar and all-electric heating, cooling, and transportation to reduce dependence on fossil fuels, overall energy costs, and carbon footprint.