Momentus Inc. (NASDAQ:MNTS – Get Free Report) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,691,283 shares, a drop of 43.5% from the May 31st total of 2,993,305 shares. Currently, 16.1% of the company’s shares are sold short. Based on an average trading volume of 7,995,092 shares, the short-interest ratio is presently 0.2 days.
Institutional Trading of Momentus
A hedge fund recently raised its position in Momentus stock. Armistice Capital LLC increased its position in shares of Momentus Inc. (NASDAQ:MNTS – Free Report) by 199.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission. 9.24% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Momentus from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings reiterated 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, Based on data from MarketBeat, Momentus currently has an average rating of “Sell”.
Momentus Stock Down 4.3%
Shares of NASDAQ:MNTS traded down $0.28 during mid-day trading on Thursday, reaching $6.22. 1,786,003 shares of the stock were exchanged, compared to its average volume of 4,596,664. The stock’s 50 day simple moving average is $9.02 and its 200-day simple moving average is $7.24. Momentus has a one year low of $3.11 and a one year high of $43.55. The company has a market cap of $117.17 million, a P/E ratio of -0.14 and a beta of 2.27.
Momentus (NASDAQ:MNTS – Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($2.15) EPS for the quarter. The business had revenue of $3.21 million for the quarter. Momentus had a negative return on equity of 401.62% and a negative net margin of 843.77%.
About Momentus
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.
Further Reading
- Five stocks we like better than Momentus
- Shorting the Grid: Bloom Energy’s $25B AI Power Play
- SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
- Meta’s AI Compute Push Could Turn Its Massive CapEx Bill Into a Competitive Weapon
- 3 Dividend ETFs Built for Stability in a Volatile Market
Receive News & Ratings for Momentus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momentus and related companies with MarketBeat.com's FREE daily email newsletter.
