Momentus (NASDAQ:MNTS) Stock Price Up 2.4% – Time to Buy?

Shares of Momentus Inc. (NASDAQ:MNTS) shot up 2.4% during mid-day trading on Friday . The company traded as high as $0.56 and last traded at $0.53. 639,683 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 5,722,222 shares. The stock had previously closed at $0.52.

Momentus Trading Up 2.4 %

The company’s 50-day moving average price is $0.57 and its two-hundred day moving average price is $0.58.

Momentus (NASDAQ:MNTS) last released its earnings results on Tuesday, October 15th. The company reported ($0.66) earnings per share for the quarter. Momentus had a negative return on equity of 1,945.42% and a negative net margin of 1,303.93%. The firm had revenue of $0.51 million during the quarter.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Virtu Financial LLC raised its position in shares of Momentus Inc. (NASDAQ:MNTS) by 142.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,955 shares of the company’s stock after acquiring an additional 46,392 shares during the quarter. Virtu Financial LLC owned approximately 0.66% of Momentus worth $34,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.24% of the company’s stock.

About Momentus

Momentus Inc, together with its subsidiaries, operates as a commercial space company. The company focuses on providing in-space infrastructure services, including in-space transportation, hosted payloads, and in-orbit services. Its principal and target customers include satellite operators. The company is headquartered in San Jose, California.