why Altus Midstream Company [ALTM] is a Good Choice for Investors After New Price Target of $12.75

Altus Midstream Company [NASDAQ: ALTM] surged by $20.51 during the normal trading session on Thursday and reaching a high of $31.90 during the day while it closed the day at $30.54. The company report on November 5, 2020 that Altus Midstream Announces Third-Quarter 2020 Results.

Altus Midstream Company (Nasdaq: ALTM) announced its third-quarter 2020 results on its website at www.altusmidstream.com/investors.

There will be a conference call Nov. 5 at 1 p.m. Central time to discuss the results. It will be webcast and archived on Altus’ website and available for playback by telephone for one week. The number for the replay is (855) 859-2056 or (404) 537-3406 for international calls. The conference access code is 3645066.

Altus Midstream Company stock has also gained 217.13% of its value over the past 7 days. However, ALTM stock has inclined by 122.11% in the 3 months of the year. Over the past six months meanwhile, it has gained 133.41% and lost -46.61% year-on date.

The market cap for ALTM stock reached $495.36 million, with 3.75 million shares outstanding and 3.29 million shares in the current float. Compared to the average trading volume of 34.08K shares, ALTM reached a trading volume of 11988682 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Altus Midstream Company [ALTM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALTM shares is $12.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALTM stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Altus Midstream Company shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on April 02, 2020. The new note on the price target was released on March 24, 2020, representing the official price target for Altus Midstream Company stock. On April 16, 2019, analysts decreased their price target for ALTM shares from 10 to 7.

The Average True Range (ATR) for Altus Midstream Company is set at 1.98, with the Price to Sales ratio for ALTM stock in the period of the last 12 months amounting to 3.30. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 0.12. Price to Free Cash Flow for ALTM in the course of the last twelve months was 15.73 with Quick ratio for the last quarter at 1.40.

ALTM stock trade performance evaluation

Altus Midstream Company [ALTM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 217.13. With this latest performance, ALTM shares gained by 185.15% in over the last four-week period, additionally plugging by 133.41% over the last 6 months – not to mention a drop of -30.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALTM stock in for the last two-week period is set at 94.60, with the RSI for the last a single of trading hit 97.35, and the three-weeks RSI is set at 90.56 for Altus Midstream Company [ALTM]. The present Moving Average for the last 50 days of trading for this stock 11.50, while it was recorded at 13.95 for the last single week of trading, and 16.96 for the last 200 days.

Altus Midstream Company [ALTM]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Altus Midstream Company [ALTM] shares currently have an operating margin of +10.99 and a Gross Margin at +28.32. Altus Midstream Company’s Net Margin is presently recorded at -272.22.

Additionally, ALTM Total Debt to Total Capital is recorded at 727.00, with Total Debt to Total Assets ending up at 27.26.

Receivables Turnover for the company is 8.60 with a Total Asset Turnover recorded at a value of 0.08.Altus Midstream Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for Altus Midstream Company [ALTM] stock

With the latest financial reports released by the company, Altus Midstream Company posted 2.2/share EPS, while the average EPS was predicted by analysts to be reported at -0.53/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 515.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALTM.

Altus Midstream Company [ALTM]: Insider Ownership positions

There are presently around $83 million, or 66.30% of ALTM stock, in the hands of institutional investors. The top three institutional holders of ALTM stocks are: HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC with ownership of 427,726, which is approximately -5.934% of the company’s market cap and around 0.60% of the total institutional ownership; HITE HEDGE ASSET MANAGEMENT LLC, holding 358,306 shares of the stock with an approximate value of $10.94 million in ALTM stocks shares; and KAYNE ANDERSON CAPITAL ADVISORS LP, currently with $8.51 million in ALTM stock with ownership of nearly -3.193% of the company’s market capitalization.

Positions in Altus Midstream Company stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 22 institutional holders increased their position in Altus Midstream Company [NASDAQ:ALTM] by around 372,453 shares. Additionally, 39 investors decreased positions by around 677,903 shares, while 10 investors held positions by with 1,658,412 shares. The mentioned changes placed institutional holdings at 2,708,768 shares, according to the latest SEC report filing. ALTM stock had 11 new institutional investments in for a total of 97,484 shares, while 22 institutional investors sold positions of 354,657 shares during the same period.

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