Momentus Inc. (NASDAQ:MNTS) Short Interest Up 47.4% in January

Momentus Inc. (NASDAQ:MNTS) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 234,199 shares, an increase of 47.4% from the December 31st total of 158,873 shares. Approximately 16.8% of the shares of the company are sold short. Based on an average daily volume of 11,594,081 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 11,594,081 shares, the days-to-cover ratio is presently 0.0 days. Approximately 16.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC boosted its position in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after acquiring an additional 527,773 shares during the period. Armistice Capital LLC owned about 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 equities analysts recently weighed in on MNTS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a research report on Thursday, January 22nd. Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Momentus Trading Down 11.3%

Shares of MNTS traded down $0.81 during midday trading on Monday, reaching $6.37. 446,910 shares of the stock were exchanged, compared to its average volume of 5,964,024. The company has a market capitalization of $8.92 million, a P/E ratio of -0.09 and a beta of 1.04. Momentus has a 52 week low of $4.73 and a 52 week high of $113.35. The company’s 50 day moving average is $9.77 and its two-hundred day moving average is $17.65.

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

Momentus Company Profile

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.