Amentum (NYSE:AMTM) Sees Strong Trading Volume - Time to Buy?

Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) shares saw strong trading volume on Wednesday . 3,296,768 shares traded hands during mid-day trading, an increase of 21% from the previous session's volume of 2,713,481 shares.The stock last traded at $18.19 and had previously closed at $17.04.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Raymond James assumed coverage on shares of Amentum in a research report on Thursday, November 21st. They issued an "outperform" rating and a $30.00 target price on the stock. Cantor Fitzgerald raised shares of Amentum to a "hold" rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Amentum in a research report on Thursday, February 6th.

Amentum Stock Performance

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

Amentum (NYSE:AMTM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.06. Equities research analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

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Insider Activity

In related news, Director Barbara Loughran purchased 4,600 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $21.23 per share, for a total transaction of $97,658.00. Following the completion of the purchase, the director now owns 4,600 shares in the company, valued at approximately $97,658. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven J. Demetriou purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was bought at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the purchase, the insider now owns 620,893 shares of the company's stock, valued at approximately $12,920,783.33. The trade was a 19.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.67% of the company's stock.

Institutional Trading of Amentum

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Amentum in the third quarter worth $790,000. Wharton Business Group LLC bought a new stake in shares of Amentum in the third quarter worth $2,106,000. JPMorgan Chase & Co. bought a new stake in Amentum during the third quarter valued at $8,739,000. Foundations Investment Advisors LLC bought a new stake in Amentum during the fourth quarter valued at $409,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Amentum during the third quarter valued at $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.