Amentum (NYSE:AMTM) Sets New 52-Week Low – Time to Sell?

Amentum Holdings, Inc. (NYSE:AMTM)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $17.82 and last traded at $18.12, with a volume of 89661 shares traded. The stock had previously closed at $18.44.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Cantor Fitzgerald upgraded Amentum to a “hold” rating in a report on Tuesday, February 25th. Raymond James began coverage on shares of Amentum in a research report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 target price on shares of Amentum in a report on Thursday, February 6th.

Amentum Trading Up 2.3 %

The firm has a fifty day moving average price of $21.25. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM) last announced its earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. On average, analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Amentum

A number of hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new stake in shares of Amentum during the 3rd quarter valued at $433,000. Louisiana State Employees Retirement System bought a new stake in Amentum during the third quarter worth about $226,000. State of Alaska Department of Revenue acquired a new stake in Amentum during the third quarter worth about $701,000. Nisa Investment Advisors LLC bought a new position in Amentum in the 3rd quarter valued at about $1,154,000. Finally, New York State Teachers Retirement System bought a new position in Amentum in the 3rd quarter valued at about $3,745,000. 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.