Momentus (NASDAQ:MNTS) Issues Quarterly Earnings Results

Momentus (NASDAQ:MNTS) posted its quarterly earnings results on Wednesday. The company reported ($1.08) earnings per share for the quarter, Zacks reports.

Momentus Stock Down 5.3%

NASDAQ:MNTS traded down $0.03 on Friday, hitting $0.57. The stock had a trading volume of 285,018 shares, compared to its average volume of 3,019,143. The business’s 50-day simple moving average is $1.20 and its two-hundred day simple moving average is $1.33. The stock has a market cap of $12.95 million, a price-to-earnings ratio of -0.06 and a beta of 1.24. Momentus has a 52-week low of $0.58 and a 52-week high of $11.70.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC grew its position in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Momentus from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Momentus Company Profile

Momentus Inc, together with its subsidiaries, operates as a commercial space company. The company focuses on providing in-space infrastructure services, including in-space transportation, hosted payloads, and in-orbit services. Its principal and target customers include satellite operators. The company is headquartered in San Jose, California.