Momentus (NASDAQ:MNTS) Posts Quarterly Earnings Results

Momentus (NASDAQ:MNTS) issued its quarterly earnings results on Tuesday. The company reported ($1.23) EPS for the quarter, Zacks reports. The business had revenue of $0.19 million during the quarter.

Momentus Stock Down 2.3%

NASDAQ:MNTS opened at $1.28 on Thursday. Momentus has a one year low of $1.03 and a one year high of $28.56. The firm’s fifty day moving average is $1.26 and its two-hundred day moving average is $1.92.

Hedge Funds Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC boosted its stake 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 institutional investor owned 792,000 shares of the company’s stock after acquiring an additional 527,773 shares during the quarter. Armistice Capital LLC owned 12.62% of Momentus worth $966,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

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.