Amentum (NYSE:AMTM) Stock Price Down 7.3% – Should You Sell?

Amentum Holdings, Inc. (NYSE:AMTM)’s stock price dropped 7.3% on Tuesday . The stock traded as low as $21.44 and last traded at $22.05. Approximately 679,711 shares were traded 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

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

Amentum Stock Down 5.5 %

The company has a 50-day moving average of $26.73.

Hedge Funds Weigh In On Amentum

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp bought a new stake in shares of Amentum during the 3rd quarter valued at $236,306,000. Primecap Management Co. CA purchased a new position in Amentum during the 3rd quarter valued at about $169,999,000. Geode Capital Management LLC bought a new stake in Amentum during the third quarter worth about $101,022,000. Ruane Cunniff & Goldfarb L.P. bought a new stake in Amentum during the third quarter worth about $81,608,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Amentum in the third quarter worth about $78,399,000. 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.