Amentum (NYSE:AMTM) Stock Price Down 2.9% – Should You Sell?

Amentum Holdings, Inc. (NYSE:AMTM) fell 2.9% during mid-day trading on Tuesday . The company traded as low as $21.58 and last traded at $21.66. 453,978 shares were traded during trading, a decline of 85% from the average session volume of 3,092,736 shares. The stock had previously closed at $22.30.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMTM. Truist Financial started coverage on shares of Amentum in a research report on Monday, October 14th. They set a “buy” rating and a $31.00 price objective for the company. Raymond James started coverage on Amentum in a research note on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target on the stock.

Amentum Trading Down 5.7 %

The business’s fifty day moving average price is $25.12.

Hedge Funds Weigh In On Amentum

Several hedge funds have recently added to or reduced their stakes in the business. Dover Advisors LLC acquired a new stake in shares of Amentum in the third quarter valued at approximately $219,000. McKinley Carter Wealth Services Inc. acquired a new position in shares of Amentum in the third quarter worth $1,764,000. Heritage Family Offices LLP purchased a new stake in shares of Amentum in the third quarter valued at $308,000. ZWJ Investment Counsel Inc. acquired a new stake in shares of Amentum during the third quarter valued at $2,256,000. Finally, Compass Wealth Management LLC purchased a new stake in Amentum during the 3rd quarter worth about $804,000. 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.