Amentum (NYSE:AMTM) Shares Up 4.7% - Here's What Happened

Shares of Amentum Holdings, Inc. (NYSE:AMTM - Get Free Report) traded up 4.7% during 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

AMTM has been the subject of several research reports. Truist Financial started coverage on Amentum in a report on Monday, October 14th. They issued a "buy" rating and a $31.00 target price for the company. Raymond James began coverage on shares of Amentum in a research note on Thursday, November 21st. They issued an "outperform" rating and a $30.00 price objective for the company.

Amentum Stock Up 8.9 %

The business's 50 day moving average price is $25.44.

Institutional Trading of Amentum

Several large investors have recently added to or reduced their stakes in the company. Arrow Financial Corp purchased a new stake in Amentum in the third quarter valued at $26,000. US Bancorp DE purchased a new stake in Amentum in the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new stake in shares of Amentum during the 3rd quarter worth approximately $32,000. Signaturefd LLC purchased a new position in shares of Amentum during the 3rd quarter valued at approximately $33,000. Finally, Glen Eagle Advisors LLC purchased a new stake in Amentum during the third quarter worth $35,000. Hedge funds and other 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.