Momentus Inc. (NASDAQ:MNTS) Short Interest Up 90.7% in December

by · The Markets Daily

Momentus Inc. (NASDAQ:MNTS – Get Free Report) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 1,970,344 shares, an increase of 90.7% from the November 30th total of 1,033,025 shares. Approximately 142.1% of the company’s shares are sold short. Based on an average daily trading volume, of 16,033,235 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 16,033,235 shares, the short-interest ratio is presently 0.1 days. Approximately 142.1% of the company’s shares are sold short.

Analysts Set New Price Targets

MNTS has been the topic of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a research note on Wednesday, October 8th. Wall Street Zen upgraded Momentus from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Momentus presently has an average rating of “Sell”.

Get Our Latest Stock Report on MNTS

Momentus Stock Down 11.1%

Shares of NASDAQ MNTS traded down $0.78 during trading on Friday, reaching $6.22. 325,275 shares of the stock were exchanged, compared to its average volume of 839,899. The company has a market capitalization of $8.69 million, a price-to-earnings ratio of -0.09 and a beta of 1.02. The business’s 50-day moving average price is $14.70 and its 200 day moving average price is $20.24. Momentus has a twelve month low of $5.98 and a twelve month high of $174.56.

Momentus (NASDAQ:MNTS – Get Free Report) last released its quarterly earnings results on Wednesday, November 19th. The company reported ($19.28) earnings per share (EPS) for the quarter. The company had revenue of $0.23 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC increased its position in shares of Momentus Inc. (NASDAQ:MNTS – Free Report) by 199.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the quarter. Armistice Capital LLC owned 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 and hedge funds.

About Momentus

(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.

Featured Articles