Insider Buying: Momentus (NASDAQ:MNTS) Director Acquires 2,000 Shares of Stock

Momentus Inc. (NASDAQ:MNTS) Director Chris Hadfield purchased 2,000 shares of Momentus stock in a transaction dated Thursday, May 21st. The shares were purchased at an average cost of $7.19 per share, for a total transaction of $14,380.00. Following the completion of the transaction, the director owned 3,500 shares of the company’s stock, valued at approximately $25,165. This represents a 133.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Chris Hadfield also recently made the following trade(s):

• On Friday, May 15th, Chris Hadfield purchased 1,500 shares of Momentus stock. The shares were purchased at an average cost of $5.32 per share, for a total transaction of $7,980.00.

Momentus Price Performance

Shares of NASDAQ MNTS traded up $6.96 during midday trading on Tuesday, reaching $14.34. 71,760,475 shares of the stock were exchanged, compared to its average volume of 3,711,488. The business has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $7.62. The company has a market capitalization of $143.26 million, a price-to-earnings ratio of -0.33 and a beta of 1.33. Momentus Inc. has a 12 month low of $3.11 and a 12 month high of $43.55.

Momentus (NASDAQ:MNTS) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($2.15) earnings per share for the quarter. The firm had revenue of $3.22 million for the quarter. Momentus had a negative return on equity of 401.62% and a negative net margin of 843.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MNTS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Momentus from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC boosted its stake in Momentus Inc. (NASDAQ:MNTS) by 199.7% during the 2nd quarter, according to its most recent 13F filing 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 as of its most recent SEC filing. Hedge funds and other institutional investors 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.