Momentus (NASDAQ:MNTS) Issues Quarterly Earnings Results, Hits Estimates

Momentus (NASDAQ:MNTS) issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.70) earnings per share for the quarter, hitting the consensus estimate of ($0.70), FiscalAI reports. Momentus had a negative return on equity of 90.19% and a negative net margin of 927.68%.The company had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.03 million.

Momentus Stock Up 1.7%

MNTS opened at $4.23 on Wednesday. The stock’s fifty day moving average is $5.65 and its two-hundred day moving average is $6.27. The company has a market capitalization of $92.89 million, a P/E ratio of -0.19 and a beta of 2.31. Momentus has a 52 week low of $3.11 and a 52 week high of $34.45.

Institutional Trading of Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC raised its stake in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after acquiring an additional 527,773 shares during the quarter. Armistice Capital LLC owned approximately 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.

Analyst Ratings Changes

Several equities analysts recently commented on MNTS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a report on Friday, July 17th. Alliance Global Partners assumed coverage on Momentus in a report on Thursday, August 13th. They set a “buy” rating and a $8.00 price objective for the company. Finally, Wall Street Zen lowered Momentus from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.00.

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.