Cirrus has a market cap of $12m. A $1.6m contract win is worthy of an announcement to the market at that level, and it's not exactly new that Cirrus makes such announcements. If "astute investors" are only now just working out this is a small cap company with great potential but not exactly pulling down huge contracts yet, they haven't been paying attention.
This selling to me just looks like an insto exiting.
CNW Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held