Overall market sentiment has been high on Altus Midstream Co (ALTM) stock lately. ALTM receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With ALTM Stock Today?
Altus Midstream Co (ALTM) stock is trading at $46.99 as of 2:47 PM on Friday, Dec 4, an increase of $5.98, or 14.58% from the previous closing price of $41.01. The stock has traded between $41.80 and $47.44 so far today. Volume today is below average. So far 147,036 shares have traded compared to average volume of 508,569 shares.
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More About Altus Midstream Co
Altus Midstream Co is the United States-based midstream corporation. Through its consolidated subsidiaries, it owns natural gas gathering, processing, and transmission assets including transmission and gathering pipelines, compressor stations, mechanical refrigeration units, cryogenic units and associated gas treatment facilities in the Permian Basin of West Texas. The majority of the revenue is generated from gas processing services.
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