Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTS) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 306,430 shares, an increase of 19.2% from the March 15th total of 257,019 shares. Currently, 22.0% of the company’s shares are short sold. Based on an average trading volume of 831,115 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC raised its position in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to the company in its most recent filing 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 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.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Momentus from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Momentus has an average rating of “Sell”.

Momentus Stock Down 1.7%

Shares of NASDAQ:MNTS traded down $0.13 on Friday, hitting $7.50. 3,724,657 shares of the company traded hands, compared to its average volume of 3,202,245. Momentus has a 52 week low of $3.11 and a 52 week high of $43.55. The stock has a 50 day simple moving average of $4.60 and a 200-day simple moving average of $10.94. The company has a market cap of $42.98 million, a PE ratio of -0.11 and a beta of 1.14.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $16.59 earnings per share for the quarter. Momentus had a negative return on equity of 24,229.06% and a negative net margin of 2,744.86%.The firm had revenue of $0.36 million during the quarter.

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.