Short Interest in Momentus Inc. (NASDAQ:MNTS) Declines By 26.7%

Momentus Inc. (NASDAQ:MNTS) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 280,900 shares, a decline of 26.7% from the March 15th total of 383,000 shares. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 6.1% of the company’s shares are sold short.

Momentus Price Performance

MNTS traded up $0.01 during mid-day trading on Friday, hitting $1.80. 67,243 shares of the stock were exchanged, compared to its average volume of 672,209. The firm’s fifty day moving average is $2.34 and its two-hundred day moving average is $5.70. Momentus has a 1-year low of $1.56 and a 1-year high of $28.56.

Institutional Trading of Momentus

An institutional investor recently raised its position in Momentus stock. JPMorgan Chase & Co. boosted its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 165,960.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,303 shares of the company’s stock after buying an additional 8,298 shares during the quarter. JPMorgan Chase & Co. owned 0.30% of Momentus worth $66,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.24% of the company’s stock.

About Momentus

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.