Altus Midstream (NYSE:ALTM) Sees Strong Trading Volume

Shares of Altus Midstream (NYSE:ALTM) saw strong trading volume on Wednesday . 2,266,177 shares were traded during trading, an increase of 320% from the previous session’s volume of 539,968 shares.The stock last traded at $2.82 and had previously closed at $2.70.

Several equities research analysts have recently commented on ALTM shares. Credit Suisse Group downgraded Altus Midstream from an “outperform” rating to a “neutral” rating in a report on Thursday, October 31st. Barclays reaffirmed a “hold” rating and set a $3.00 target price on shares of Altus Midstream in a report on Wednesday, October 16th. Citigroup reduced their target price on Altus Midstream from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, September 30th. Finally, Zacks Investment Research raised Altus Midstream from a “sell” rating to a “hold” rating in a report on Friday, January 3rd.

The firm has a fifty day moving average price of $2.57 and a 200 day moving average price of $2.67.

Altus Midstream (NYSE:ALTM) last announced its earnings results on Thursday, October 31st. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $34.01 million for the quarter.

In related news, CEO D. Clay Bretches bought 20,000 shares of Altus Midstream stock in a transaction dated Wednesday, November 6th. The stock was acquired at an average cost of $2.19 per share, with a total value of $43,800.00.

A number of institutional investors have recently made changes to their positions in ALTM. BlackRock Inc. lifted its stake in Altus Midstream by 740.1% in the 2nd quarter. BlackRock Inc. now owns 3,273,167 shares of the company’s stock worth $12,178,000 after acquiring an additional 2,883,543 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Altus Midstream in the 2nd quarter worth about $4,836,000. Citadel Advisors LLC lifted its stake in Altus Midstream by 159.2% in the 2nd quarter. Citadel Advisors LLC now owns 386,418 shares of the company’s stock worth $1,437,000 after acquiring an additional 237,346 shares in the last quarter. Vanguard Group Inc. lifted its stake in Altus Midstream by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,666,523 shares of the company’s stock worth $9,920,000 after acquiring an additional 190,327 shares in the last quarter. Finally, HighTower Trust Services LTA purchased a new stake in Altus Midstream in the 3rd quarter worth about $495,000.

Altus Midstream Company Profile (NYSE:ALTM)

There is no company description available for Altus Midstream Co

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