Altus Midstream (ALTM) Sees Unusually-High Trading Volume

Shares of Altus Midstream (NYSE:ALTM) saw unusually-strong trading volume on Friday . Approximately 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.

A number of analysts have commented on ALTM shares. Barclays downgraded Altus Midstream from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $10.00 to $7.00 in a research report on Tuesday, April 16th. Zacks Investment Research downgraded Altus Midstream from a “buy” rating to a “hold” rating in a research report on Friday, February 8th.

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



In other news, major shareholder Kayne Anderson Capital Advisor sold 107,114 shares of Altus Midstream stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $7.09, for a total value of $759,438.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 552,314 shares of company stock valued at $3,466,354 in the last 90 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opera Trading Capital acquired a new stake in shares of Altus Midstream during the fourth quarter worth $103,000. Albert D Mason Inc. acquired a new stake in shares of Altus Midstream during the fourth quarter worth $358,000. State Treasurer State of Michigan acquired a new stake in shares of Altus Midstream during the fourth quarter worth $27,055,000. Comerica Securities Inc. acquired a new stake in shares of Altus Midstream during the fourth quarter worth $106,000. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Altus Midstream during the fourth quarter worth $27,938,000.

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About Altus Midstream (NYSE:ALTM)

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