Why Amentum Holdings, Inc. (AMTM) Is Among the Top Performing Stocks on Wednesday?

We recently published a list of The Top 10 Performing Stocks on Wednesday. In this article, we are going to take a look at where Amentum Holdings, Inc. (NYSE:AMTM) stands against other top performing stocks on Wednesday.

Wall Street’s three major indices finished in the green territory on Wednesday as investors continued to digest news of President Donald Trump’s tariff rollout on imports.

The tech-heavy Nasdaq finished the day strongest, adding 0.87 percent. The S&P 500 grew 0.67 percent, while the Dow Jones was up 0.56 percent.

Ten individual stocks mirrored a broader market optimism, closing the day in the green amid a series of corporate developments that sparked buying appetite.

In this article, we named Wednesday’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

A crane carrying heavy building materials, representing the robust civil engineering products of the company.

Amentum Holdings, Inc. (NYSE:AMTM)

Amentum Holdings, Inc. (NYSE:AMTM) jumped by 10.30 percent on Wednesday to end at $19.71 apiece after bagging a $71.9-million contract with the Naval Surface Warfare Center Dahlgren Division (NSWCDD).

The contract leverages Amentum Holdings (NYSE:AMTM)’s track record in technical and engineering solutions and will support the Navy’s mission of enhancing decision-making and electromagnetic spectrum capabilities and serve as the E3 battle force interoperability electromagnetic interference problem solver.

“This award highlights our expertise in delivering innovative solutions that enhance the Navy’s electromagnetic capabilities,” said Mark Walter, President of AMTM’s Engineering and Technology Group. “Our team’s proficiency in integrated topside design, modeling, and simulation for risk analysis, and assessing the E3 impact on military operations will be crucial to achieving successful test, evaluation, and integration solutions to help protect national security.”

Overall, Amentum Holdings, Inc. (NYSE:AMTM) ranks 4th on our list of top performing stocks on Wednesday. While we acknowledge the potential of AMTM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as AMTM but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.