Momentus (NASDAQ:MNTS) Stock Jumps 2.1% – Still a Buy?

Momentus Inc. (NASDAQ:MNTS)’s stock price traded up 2.1% during trading on Wednesday. The stock traded as high as $2.50 and last traded at $2.40. Approximately 373,780 shares were traded during mid-day trading, a decline of 43% from the average session volume of 654,359 shares. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

Several analysts recently commented on MNTS shares. Wall Street Zen cut Momentus from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Alliance Global Partners began coverage on shares of Momentus in a research note on Thursday, August 13th. They issued a “buy” rating and a $8.00 price target for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a research report on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Momentus presently has a consensus rating of “Hold” and a consensus target price of $8.00.

Momentus Stock Up 2.1%

The business’s 50 day simple moving average is $3.88 and its 200 day simple moving average is $6.03. The company has a market capitalization of $52.70 million, a PE ratio of -0.11 and a beta of 2.43.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.70) EPS for the quarter, meeting the consensus estimate of ($0.70). The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.03 million. Momentus had a negative net margin of 927.68% and a negative return on equity of 90.19%. On average, analysts anticipate that Momentus Inc. will post -3.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Momentus

A hedge fund recently bought a new stake in Momentus stock. Engineers Gate Manager LP acquired a new stake in shares of Momentus Inc. (NASDAQ:MNTS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,300 shares of the company’s stock, valued at approximately $103,000. Engineers Gate Manager LP owned about 0.07% of Momentus at the end of the most recent quarter. Institutional investors and hedge funds own 9.24% of the company’s stock.

Momentus Company Profile

Momentus Inc is a space infrastructure company that provides in-space transportation and related services for commercial, civil and government customers. The company is focused on moving spacecraft and payloads between orbits after launch, helping customers deploy satellites, conduct technology demonstrations and support other missions in space.

Its primary platform is the Vigoride Orbital Service Vehicle, which is designed to transport and host payloads in orbit. Vigoride can support satellite deployment, hosted payloads and other in-space services.