Castellum, Inc. (CTM) shares jumped 23.20 percent, gaining $0.1625 to $0.8639 on Monday after the cybersecurity, electronic warfare, and software services provider announced that its joint venture, CTM JV, LLC, was awarded a position on the U.S. Navy's Logistics IT Integration and Support (LIIS) Capability Modernization, Deployment, and Support Multiple Award Contract.
The stock is currently trading at $0.8639, compared with its previous close of $0.7014 on the New York Stock Exchange. During the session, shares opened at $0.9426 and traded between $0.8300 and $0.9801. Trading volume surged to 114.95 million shares, dramatically exceeding its average daily volume of 1.41 million shares.
The contract vehicle carries a total maximum value of approximately $250 million and will allow Castellum to compete for future task orders supporting the modernization of critical Navy logistics and information technology systems.
Castellum shares have traded between $0.4800 and $1.5600 over the past 52 weeks.
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