Wall Street Zen Upgrades Momentus (NASDAQ:MNTS) to Hold

Momentus (NASDAQ:MNTS) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Separately, 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, Based on data from MarketBeat.com, Momentus presently has an average rating of “Sell”.

Momentus Trading Down 17.0%

Shares of MNTS stock opened at $10.34 on Friday. The firm has a fifty day simple moving average of $11.76 and a 200-day simple moving average of $18.98. The company has a market capitalization of $14.48 million, a PE ratio of -0.15 and a beta of 0.97. Momentus has a twelve month low of $4.73 and a twelve month high of $160.65.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC increased its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 792,000 shares of the company’s stock after acquiring 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. Institutional investors and hedge funds own 9.24% of the company’s stock.

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.