Altus Midstream (ALTM) Sees Unusually-High Trading Volume

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Altus Midstream (NYSE:ALTM) shares saw an uptick in trading volume on Friday . 1,251,412 shares changed hands during mid-day trading, an increase of 173% from the previous session’s volume of 458,995 shares.The stock last traded at $5.35 and had previously closed at $5.32.

Several research firms have recently issued reports on ALTM. Zacks Investment Research downgraded Altus Midstream from a “buy” rating to a “sell” rating in a research note on Friday, April 19th. Barclays downgraded Altus Midstream from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $10.00 to $7.00 in a research note on Tuesday, April 16th.

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

In other news, major shareholder Kayne Anderson Capital Advisor sold 223,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $6.13, for a total value of $1,370,668.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 552,314 shares of company stock valued at $3,466,354 in the last ninety days.

Hedge funds have recently made changes to their positions in the stock. Squar Milner Financial Services LLC bought a new stake in Altus Midstream in the first quarter valued at approximately $25,000. JPMorgan Chase & Co. bought a new stake in Altus Midstream in the first quarter worth $26,000. Cresset Asset Management LLC bought a new stake in Altus Midstream in the first quarter worth $30,000. Comerica Bank bought a new stake in Altus Midstream in the first quarter worth $68,000. Finally, Geode Capital Management LLC bought a new stake in Altus Midstream in the fourth quarter worth $95,000.

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About Altus Midstream (NYSE:ALTM)

There is no company description available for Altus Midstream Co

See Also: Trading based on a resistance level

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