Momentus (NASDAQ:MNTS) Releases Earnings Results

Momentus (NASDAQ:MNTS) announced its quarterly earnings results on Tuesday. The company reported ($0.70) EPS for the quarter, FiscalAI reports. Momentus had a negative net margin of 843.77% and a negative return on equity of 401.62%. The firm had revenue of $0.03 million during the quarter.

Momentus Stock Performance

NASDAQ:MNTS traded up $0.13 during mid-day trading on Tuesday, reaching $4.82. The stock had a trading volume of 593,644 shares, compared to its average volume of 3,996,815. The business has a 50 day simple moving average of $7.50 and a 200 day simple moving average of $6.50. The firm has a market capitalization of $90.77 million, a price-to-earnings ratio of -0.11 and a beta of 2.31. Momentus has a twelve month low of $3.11 and a twelve month high of $43.55.

Institutional Trading of Momentus

A hedge fund recently raised its position in Momentus stock. Armistice Capital LLC increased its position in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to the company in its most recent disclosure 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 at the end of the most recent quarter. 9.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MNTS has been the topic of several analyst reports. Wall Street Zen downgraded shares of Momentus from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Momentus currently has an average rating of “Sell”.

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.