Amentum (NYSE:AMTM) Shares Up 8.4% - Here's What Happened

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) was up 8.4% on Tuesday . The stock traded as high as $20.94 and last traded at $20.94. Approximately 1,386,521 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 2,748,798 shares. The stock had previously closed at $19.32.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMTM shares. Truist Financial reduced their price target on Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada set a $24.00 target price on Amentum and gave the company a "sector perform" rating in a report on Wednesday, May 21st. The Goldman Sachs Group started coverage on Amentum in a report on Thursday, March 20th. They set a "neutral" rating and a $21.00 target price for the company. Morgan Stanley started coverage on shares of Amentum in a research note on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price objective for the company. Finally, Citizens Jmp initiated coverage on shares of Amentum in a research note on Monday, May 12th. They set an "outperform" rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.38.

Amentum Price Performance

The stock's 50 day simple moving average is $20.13 and its 200 day simple moving average is $20.79. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.44 billion. As a group, equities research analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Amentum

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Amentum by 5.1% in the 1st quarter. Rhumbline Advisers now owns 310,103 shares of the company's stock valued at $5,644,000 after purchasing an additional 14,919 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its position in Amentum by 11.8% during the first quarter. Security National Bank of Sioux City Iowa IA now owns 17,069 shares of the company's stock valued at $311,000 after buying an additional 1,800 shares during the period. Nexpoint Asset Management L.P. boosted its position in Amentum by 144.0% during the first quarter. Nexpoint Asset Management L.P. now owns 43,900 shares of the company's stock valued at $799,000 after buying an additional 25,905 shares during the period. Millennium Management LLC boosted its position in Amentum by 68.1% during the first quarter. Millennium Management LLC now owns 2,011,792 shares of the company's stock valued at $36,615,000 after buying an additional 815,218 shares during the period. Finally, Engine Capital Management LP boosted its position in Amentum by 2.2% during the first quarter. Engine Capital Management LP now owns 635,255 shares of the company's stock valued at $11,562,000 after buying an additional 13,855 shares during the period. Hedge funds and other institutional investors own 39.93% of the company's stock.

Amentum Company Profile

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.