Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTS) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 306,430 shares, a growth of 19.2% from the March 15th total of 257,019 shares. Approximately 22.0% of the shares of the company are short sold. Based on an average daily volume of 831,115 shares, the days-to-cover ratio is presently 0.4 days.

Momentus Price Performance

Shares of NASDAQ MNTS traded down $0.13 during midday trading on Friday, hitting $7.50. 3,724,657 shares of the company’s stock were exchanged, compared to its average volume of 3,202,245. The stock’s 50 day moving average price is $4.60 and its 200-day moving average price is $10.94. The firm has a market cap of $42.98 million, a P/E ratio of -0.11 and a beta of 1.14. Momentus has a twelve month low of $3.11 and a twelve month high of $43.55.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $16.59 earnings per share (EPS) for the quarter. The business had revenue of $0.36 million during the quarter. Momentus had a negative return on equity of 24,229.06% and a negative net margin of 2,744.86%.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC lifted its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 792,000 shares of the company’s stock after buying an additional 527,773 shares during the period. Armistice Capital LLC owned approximately 12.62% of Momentus worth $966,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a report on Thursday, January 22nd. Wall Street Zen lowered Momentus from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Momentus currently has an average rating of “Sell”.

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.