Castellum, Inc. Announces Initiation of “Buy” Rating by EF Hutton
BETHESDA, Md., April 26, 2023 – Castellum (NYSE-American: CTM) announced that EF Hutton has initiated research coverage with a “Buy” rating. CEO Mark Fuller expressed enthusiasm about this coverage, which follows their previous assistance during Castellum's uplisting in October.
Castellum aims to grow its business aggressively through both organic growth and acquisitions, with one non-binding letter of intent under consideration and discussions with multiple companies for potential transactions. The company is tracking and converting several growth opportunities into revenue this year. Forward-looking statements in the release highlight the inherent uncertainty in achieving these goals, emphasizing the need for caution regarding the non-binding acquisition prospects.
- EF Hutton initiates research coverage with a 'Buy' rating.
- Castellum aims for aggressive growth through both organic means and acquisitions.
- The company is pursuing multiple growth opportunities this year.
- The acquisition process involves a non-binding letter of intent, which may not close as planned.
BETHESDA, Md., April 26, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity and electronic warfare services company focused on the federal government, announces that EF Hutton has initiated research coverage of Castellum with a “Buy” rating.
“We are excited to have research coverage initiated by EF Hutton,” said Mark Fuller, President and CEO of Castellum. “EF Hutton assisted us with our uplisting last October and now has provided an independent review of our business in a format which investors may find useful. We hope to attract research coverage from other analysts as our business grows and investor awareness of Castellum increases. Our focus remains on continuing to grow our business aggressively via both organic growth and acquisition to exceed the forecasted numbers which EF Hutton included in their report. We have one pending non-binding letter of intent which we continue to work to complete and are also in discussions with several other companies about potential transactions. Organically, we have several meaningful growth opportunities which we are tracking and working to convert to revenue this year.”
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or the future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and in the Company’s 10-K and other SEC filings disclosed at www.sec.gov. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. Specifically, the referenced non-binding letter of intent to acquire a company may not close as it is subject to the execution of definitive agreements.
Contact:
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: 646.893.5835 x1
Email: lisa@skylineccg.com; info@castellumus.com
An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d50dfb9-2647-4724-beff-c63cb739a353
FAQ
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