Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTSGet Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 597,365 shares, a decline of 47.9% from the April 30th total of 1,147,263 shares. Currently, 6.0% of the shares of the company are short sold. Based on an average daily volume of 2,571,028 shares, the days-to-cover ratio is currently 0.2 days.

Momentus Stock Performance

NASDAQ MNTS traded down $2.63 during mid-day trading on Tuesday, reaching $14.08. 4,986,516 shares of the stock were exchanged, compared to its average volume of 4,422,883. Momentus has a 1-year low of $3.11 and a 1-year high of $43.55. The business’s fifty day simple moving average is $6.34 and its 200 day simple moving average is $7.62. The stock has a market capitalization of $148.52 million, a PE ratio of -0.32 and a beta of 2.19.

Momentus (NASDAQ:MNTSGet Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($2.15) earnings per share for the quarter. The company had revenue of $3.22 million for the quarter. Momentus had a negative return on equity of 401.62% and a negative net margin of 843.77%.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC boosted its stake in shares of Momentus Inc. (NASDAQ:MNTSFree Report) by 199.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the period. Armistice Capital LLC owned approximately 12.62% of Momentus worth $966,000 at the end of the most recent reporting period. 9.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MNTS shares. Wall Street Zen upgraded shares of Momentus from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Read Our Latest Stock Analysis on Momentus

Momentus Company Profile

(Get Free Report)

Momentus Inc is a space logistics and in-space transportation company that develops and operates orbital transfer vehicles (OTVs) to move satellites and other payloads between orbits. Its core offering, the Vigoride platform, uses a proprietary water plasma propulsion system to provide sustainable, high-efficiency thrust for a range of orbital maneuvers. The company’s solutions are designed to enable flexible deployment and repositioning of satellites after launch, assisting satellite operators in optimizing mission lifespans and orbital slots.

Founded in 2017 and headquartered in Santa Clara, California, Momentus has pursued a path of technology demonstration and commercialization.

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