Amentum (NYSE:AMTM) Shares Gap Up – Here’s Why

Shares of Amentum Holdings, Inc. (NYSE:AMTM) gapped up prior to trading on Tuesday . The stock had previously closed at $19.80, but opened at $20.99. Amentum shares last traded at $20.95, with a volume of 330,189 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMTM shares. Raymond James assumed coverage on Amentum in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of Amentum in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald assumed coverage on shares of Amentum in a report on Friday, February 7th. They issued a “neutral” rating and a $25.00 target price for the company.

Amentum Stock Performance

The company has a current ratio of 1.59, a quick ratio of 1.57 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $21.59.

Amentum (NYSE:AMTM) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Research analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Insider Activity at Amentum

In other Amentum news, insider Steven J. Demetriou acquired 100,000 shares of Amentum stock in a transaction that occurred on Wednesday, February 12th. The shares were bought at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the completion of the purchase, the insider now directly owns 620,893 shares in the company, valued at $12,920,783.33. This trade represents a 19.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 18.67% of the stock is owned by company insiders.

Institutional Trading of Amentum

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Amentum in the 3rd quarter valued at about $790,000. Wharton Business Group LLC acquired a new position in shares of Amentum in the third quarter worth approximately $2,106,000. JPMorgan Chase & Co. bought a new stake in Amentum in the third quarter valued at approximately $8,739,000. Peak Asset Management LLC acquired a new stake in Amentum during the 3rd quarter valued at approximately $774,000. Finally, Foundations Investment Advisors LLC acquired a new stake in Amentum during the 4th quarter valued at approximately $409,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

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.