Why Castellum Shares Are Moving

Castellum Inc CTM shares are trading higher by 17.42% to $1.55 after the company announced it is one of the winners of the Architecture and Integration Directorate Multiple Award Indefinite Delivery/Indefinite Quantity Contract contract.

The company says this multiple award IDIQ prime contract has a ceiling of $900,000,000 and a 10-year period of performance and is with the Department of the Air Force, Air Force Materiel Command, Air Force Life Cycle Management Center, Architecture, and Integration Directorate.

"This is an important prime contract award as it will permit us to take the capabilities that we have provided for years to the Army and Navy into the Air Force," said Mark Fuller, President and CEO of Castellum.

"With a 10-year period of performance we will be focusing resources and efforts on this contract vehicle to provide the Air Force with a variety of services to meet their mission needs while growing and diversifying the customer base of Castellum."

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According to data from Benzinga Pro, CTM has a 52-week high of $5.73 and a 52-week low of $0.62.