Amentum (NYSE:AMTM) Hits New 1-Year Low – What’s Next?

Amentum Holdings, Inc. (NYSE:AMTM)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $20.47 and last traded at $20.55, with a volume of 2048552 shares traded. The stock had previously closed at $21.51.

Wall Street Analysts Forecast Growth

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

Amentum Trading Up 1.3 %

The firm has a fifty day simple moving average of $26.57.

Hedge Funds Weigh In On Amentum

Institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in Amentum in the 3rd quarter valued at approximately $790,000. Wharton Business Group LLC bought a new stake in shares of Amentum in the third quarter valued at approximately $2,106,000. Peak Asset Management LLC acquired a new stake in shares of Amentum in the third quarter worth $774,000. Tower Bridge Advisors bought a new position in Amentum during the third quarter worth $4,053,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Amentum during the 3rd quarter valued at $1,062,000. 39.93% of the stock is currently owned by institutional investors.

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.