Amentum (NYSE:AMTM) Trading 4.7% Higher – Here’s Why

Amentum Holdings, Inc. (NYSE:AMTM)’s share price shot up 4.7% during mid-day trading on Monday . The company traded as high as $21.77 and last traded at $21.44. 1,689,649 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 3,085,674 shares. The stock had previously closed at $20.48.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMTM shares. Raymond James initiated coverage on shares of Amentum in a research report on Thursday, November 21st. They set an “outperform” rating and a $30.00 target price for the company. Truist Financial started coverage on shares of Amentum in a report on Monday, October 14th. They issued a “buy” rating and a $31.00 price objective for the company.

Amentum Price Performance

The company’s 50 day simple moving average is $25.57.

Institutional Trading of Amentum

A number of hedge funds and other institutional investors have recently bought and sold shares of AMTM. Wilmington Savings Fund Society FSB bought a new position in shares of Amentum in the third quarter worth $790,000. Wharton Business Group LLC purchased a new stake in shares of Amentum in the 3rd quarter valued at about $2,106,000. Peak Asset Management LLC bought a new stake in shares of Amentum during the 3rd quarter valued at about $774,000. Tower Bridge Advisors purchased a new position in shares of Amentum during the third quarter worth about $4,053,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Amentum in the third quarter worth approximately $1,062,000. Institutional investors own 39.93% of the company’s stock.

About Amentum

Amentum Holdings, Inc provides engineering and technology solutions to address challenges in science, security, and sustainability. It serves various markets, such as energy and environment, space, intelligence, defense, civilian, commercial, and international markets. The company was incorporated in 2010 and is headquatered in Chantilly, Virginia.