Amentum (NYSE:AMTM) Shares Down 5.1% – Here’s Why

Amentum Holdings, Inc. (NYSE:AMTM) dropped 5.1% during mid-day trading on Thursday . The company traded as low as $22.00 and last traded at $21.94. Approximately 833,829 shares were traded during trading, a decline of 64% from the average daily volume of 2,305,352 shares. The stock had previously closed at $23.12.

Analyst Ratings Changes

AMTM has been the subject of a number of research reports. Truist Financial initiated coverage on shares of Amentum in a research note on Monday, October 14th. They set a “buy” rating and a $31.00 target price for the company. 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 price target on the stock. Finally, Royal Bank of Canada initiated coverage on shares of Amentum in a research report on Friday, January 10th. They set a “sector perform” rating and a $24.00 price target on the stock.

Amentum Stock Performance

The stock has a 50-day moving average price of $22.53. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.57 and a current ratio of 1.57.

Amentum (NYSE:AMTM) last released its earnings results on Monday, December 16th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. On average, analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Amentum

Hedge funds have recently bought and sold shares of the company. Arrow Financial Corp bought a new stake in shares of Amentum during the 3rd quarter valued at approximately $26,000. US Bancorp DE bought a new stake in Amentum during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC bought a new stake in Amentum during the 3rd quarter worth approximately $32,000. Signaturefd LLC bought a new stake in Amentum during the 3rd quarter worth approximately $33,000. Finally, Glen Eagle Advisors LLC bought a new stake in Amentum during the 3rd quarter worth approximately $35,000. 39.93% of the stock is owned by institutional investors.

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.