Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTS) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 158,873 shares, a drop of 91.9% from the December 15th total of 1,970,344 shares. Based on an average trading volume of 1,132,590 shares, the days-to-cover ratio is presently 0.1 days. Currently, 11.4% of the shares of the company are sold short. Currently, 11.4% of the shares of the company are sold short. Based on an average trading volume of 1,132,590 shares, the days-to-cover ratio is presently 0.1 days.

Momentus Trading Down 17.0%

Shares of MNTS stock traded down $2.12 during trading on Monday, reaching $10.34. 1,693,831 shares of the company’s stock traded hands, compared to its average volume of 6,325,818. The firm’s 50-day moving average is $11.76 and its 200 day moving average is $18.98. Momentus has a 1 year low of $4.73 and a 1 year high of $160.65. The company has a market capitalization of $14.48 million, a P/E ratio of -0.15 and a beta of 0.97.

Momentus (NASDAQ:MNTS) last released its quarterly earnings results on Wednesday, November 19th. The company reported ($19.28) EPS for the quarter. The business had revenue of $0.23 million for the quarter.

Hedge Funds Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC lifted its holdings in Momentus Inc. (NASDAQ:MNTS) by 199.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 792,000 shares of the company’s stock after buying 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 SEC filing. Hedge funds and other institutional investors own 9.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MNTS. Wall Street Zen raised shares of Momentus from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus 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.