C-Com CEO Keeps Buying Near C$1

C-Com Satellite Systems drifted back to C$0.99 last week — the same price level where Founder and CEO Leslie Klein has been persistently adding to his position, creating the clearest signal of conviction on this thinly traded TSXV name.

The insider story here is the dominant thread. Klein spent roughly C$37,500 buying shares across nine separate transactions in late April and early May 2025. He picked up lots ranging from 500 to 14,500 shares, all priced between C$0.97 and C$0.99 — essentially the same level at which CMI closed on April 27. Klein already controls 38.5% of the company outright. The consistency of the buying cluster, rather than any single large transaction, is what stands out: repeated open-market purchases by a founder-CEO at a specific price point signal that he views the level as fair value at minimum. The next four holders — including Ronald Leslie and Eli Fathi — account for a further 5% between them and held steady as of their most recent disclosures in March 2026, implying no distribution pressure from the insider base.

Short interest on CMI is negligible and tells almost nothing. The float short reading has hovered near 0.008% of free float — a level so small it carries no informational weight. The reported share count of around 1,784 shares short (in absolute terms) confirms this is a micro-float situation where short activity is essentially noise. Borrow costs of 5.6% reflect the illiquidity premium attached to a TSXV small-cap, not any meaningful directional pressure from short sellers. Availability is ample at current short levels. The short score of 28 ranks in the 87th percentile for days-to-cover, which reflects the thin daily volume rather than active bearish conviction.

The borrow market did flash a sharp anomaly earlier in the quarter worth noting in context. In mid-to-late March 2026, availability tightened dramatically — utilization hit 100% across multiple consecutive sessions from early March through March 19 — before collapsing to near-zero by March 20. Cost to borrow peaked near 7.4% in early March and has since drifted down to 5.6%. That episode does not appear to have had a lasting effect on the stock or on the insider buying pattern, which continued undeterred through April and May 2025.

Recent earnings history has leaned negative on the day. The last four reported events each produced a small 1-day decline, ranging from flat to -10%, with the October 2025 print the weakest. Five-day reactions have also run negative, averaging roughly 5% lower across those events. No next earnings date is confirmed in the data. A notable corporate action did land on April 13: C-Com adopted semi-annual financial reporting, which reduces disclosure frequency and may affect how quickly material developments reach the market.

The setup heading into May is therefore straightforward to describe, if hard to trade: the CEO is buying at or near C$0.99, short sellers are absent, borrow conditions are normalised after a brief March disruption, and the stock is essentially flat on the month. The price level Klein has repeatedly targeted is where CMI currently trades.