Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTS) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 2,993,305 shares, an increase of 401.1% from the May 14th total of 597,365 shares. Approximately 28.4% of the shares of the stock are sold short. Based on an average trading volume of 17,816,128 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

MNTS has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Momentus from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC grew its holdings in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after buying 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 & Exchange Commission. 9.24% of the stock is currently owned by institutional investors.

Momentus Stock Down 10.6%

Shares of NASDAQ:MNTS opened at $11.34 on Thursday. Momentus has a 52 week low of $3.11 and a 52 week high of $43.55. The stock has a market capitalization of $119.64 million, a P/E ratio of -0.26 and a beta of 2.21. The firm has a fifty day simple moving average of $7.65 and a two-hundred day simple moving average of $7.60.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($2.15) EPS for the quarter. Momentus had a negative return on equity of 401.62% and a negative net margin of 843.77%.The business had revenue of $3.22 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.