Altus Midstream (NYSE:ALTM) Stock Price Up 12%

Altus Midstream (NYSE:ALTM) shares rose 12% on Friday . The company traded as high as $3.59 and last traded at $3.54, approximately 1,689,228 shares changed hands during trading. An increase of 163% from the average daily volume of 641,945 shares. The stock had previously closed at $3.16.

ALTM has been the subject of a number of research reports. Barclays set a €45.00 ($52.33) target price on Zalando and gave the stock a “buy” rating in a report on Tuesday, April 16th. Zacks Investment Research raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Friday. Finally, Citigroup raised Neste Oyj from a “neutral” rating to a “buy” rating in a report on Monday, June 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $7.56.

The firm has a fifty day simple moving average of $4.00.

Altus Midstream (NYSE:ALTM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.01 EPS for the quarter. The company had revenue of $33.85 million during the quarter.

In related news, CEO D. Clay Bretches purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $5.20 per share, for a total transaction of $104,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 55,000 shares of company stock worth $243,000 in the last 90 days.

Several hedge funds and other institutional investors have recently modified their holdings of ALTM. HITE Hedge Asset Management LLC increased its position in shares of Altus Midstream by 20.8% in the first quarter. HITE Hedge Asset Management LLC now owns 4,364,796 shares of the company’s stock worth $25,752,000 after purchasing an additional 750,525 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Altus Midstream in the first quarter worth $3,221,000. Associated Banc Corp bought a new position in shares of Altus Midstream in the first quarter worth $2,065,000. Deutsche Bank AG bought a new position in shares of Altus Midstream in the fourth quarter worth $1,600,000. Finally, Harvest Fund Advisors LLC bought a new position in shares of Altus Midstream in the fourth quarter worth $1,221,000.

About Altus Midstream (NYSE:ALTM)

There is no company description available for Altus Midstream Co

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