Castellum, Inc. (NASDAQ:CTM) Chief Operating Officer Andrew Merriman bought 3,000 shares of the company's common stock on March 18, 2026. The shares were acquired at $0.7983 apiece, bringing the total cost of the transaction to $2,394.
The purchase occurred while the stock is trading at its 52-week low of $0.79 and is down roughly 10% year-to-date. After completing the trade, Merriman's direct stake in Castellum stands at 534,000 shares.
Analysis furnished by InvestingPro, as cited by company reporting, characterizes the stock as appearing undervalued at current levels and highlights a balance-sheet profile in which the company holds more cash than debt. The platform is noted to provide deeper analysis through comprehensive Pro Research Reports available for CTM and more than 1,400 U.S. equities, including proprietary Fair Value estimates and financial health scores.
In related corporate developments, Castellum has announced it has fully retired its final debt note, removing all debt that was taken on during its acquisition period. That shift in the capital structure marks a substantial change from the position reported in July 2024, when the company carried over $11 million in debt alongside roughly $2 million in cash. Current figures show Castellum with zero debt and in excess of $14 million in cash.
Castellum's operating subsidiaries have also secured material wins. Specialty Systems, Inc. (SSI), a subsidiary of Castellum, was awarded a $49.8 million contract to provide software support services for the Naval Air Warfare Center Aircraft Division (NAWCAD) Lakehurst. The agreement spans five and a half years and represents SSI's third consecutive contract award supporting NAWCAD Lakehurst.
Separately, Canterra Minerals Corporation named Matt Manson to its board of directors. Manson currently serves as President and CEO of Radisson Mining Resources Inc. and succeeds Michael Power, who retired from the Canterra board. The appointment was disclosed alongside the retirement.
The insider purchase and the corporate updates together paint a picture of recent activity at Castellum: an executive adding to personal holdings while the company reports a strengthened liquidity position and a multi-year defense-sector contract via a subsidiary. The information cited here reflects the transaction details, balance-sheet changes, and contract award as provided in the company disclosures and associated analysis.
Transaction details
- Insider: Andrew Merriman, Chief Operating Officer
- Shares purchased: 3,000
- Price per share: $0.7983
- Total transaction value: $2,394
- Date: March 18, 2026
- Post-transaction direct ownership: 534,000 shares
- Stock trading level at time of reporting: 52-week low of $0.79; down ~10% YTD
Corporate and subsidiary highlights
- Castellum reports elimination of all debt after retiring its final debt note.
- Company cash position increased to more than $14 million, up from $2 million in July 2024 when debt exceeded $11 million.
- Specialty Systems, Inc. secured a $49.8 million, five-and-a-half-year software support contract with NAWCAD Lakehurst - SSI's third straight award supporting that organization.
- Canterra Minerals Corporation appointed Matt Manson to its board following the retirement of Michael Power; Manson is President and CEO of Radisson Mining Resources Inc.