Amentum (NYSE:AMTM) Stock Price Down 7.3% – Time to Sell?

Amentum Holdings, Inc. (NYSE:AMTM) dropped 7.3% on Tuesday . The company traded as low as $21.44 and last traded at $22.05. Approximately 679,711 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 2,456,078 shares. The stock had previously closed at $23.78.

Wall Street Analysts Forecast Growth

AMTM has been the topic of several analyst reports. Truist Financial assumed coverage on Amentum in a research report on Monday, October 14th. They issued a “buy” rating and a $31.00 price objective on the stock. Raymond James began coverage on Amentum in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target on the stock.

Amentum Stock Performance

The company’s fifty day moving average price is $26.73.

Hedge Funds Weigh In On Amentum

Institutional investors and hedge funds have recently modified their holdings of the company. Arrow Financial Corp purchased a new stake in shares of Amentum in the 3rd quarter worth $26,000. US Bancorp DE purchased a new stake in Amentum in the third quarter worth about $30,000. Anchor Investment Management LLC bought a new position in shares of Amentum in the third quarter worth about $32,000. Signaturefd LLC bought a new position in shares of Amentum in the third quarter worth about $33,000. Finally, Glen Eagle Advisors LLC purchased a new position in shares of Amentum during the 3rd quarter valued at about $35,000. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

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.