Short Interest in Momentus Inc. (NASDAQ:MNTS) Expands By 47.4%

Momentus Inc. (NASDAQ:MNTS) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 234,199 shares, an increase of 47.4% from the December 31st total of 158,873 shares. Approximately 16.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,594,081 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 11,594,081 shares, the days-to-cover ratio is presently 0.0 days. Approximately 16.8% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of brokerages have recently commented on MNTS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a research report on Thursday, January 22nd. Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC grew its position in Momentus Inc. (NASDAQ:MNTS) 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 quarter. Armistice Capital LLC owned approximately 12.62% of Momentus worth $966,000 as of its most recent SEC filing. Institutional investors and hedge funds own 9.24% of the company’s stock.

Momentus Stock Performance

Momentus stock opened at $6.37 on Tuesday. Momentus has a 52 week low of $4.73 and a 52 week high of $113.35. The firm has a market capitalization of $8.92 million, a price-to-earnings ratio of -0.09 and a beta of 1.04. The company has a 50 day moving average price of $9.67 and a 200 day moving average price of $17.54.

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

Momentus Company Profile

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.