Momentus Inc. (NASDAQ:MNTS) Sees Large Decline in Short Interest

Momentus Inc. (NASDAQ:MNTS) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 597,365 shares, a decline of 47.9% from the April 30th total of 1,147,263 shares. Approximately 6.0% of the shares of the stock are sold short. Based on an average daily volume of 2,571,028 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MNTS shares. Wall Street Zen raised shares of Momentus from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Momentus currently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC boosted its stake in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the period. Armistice Capital LLC owned about 12.62% of Momentus worth $966,000 at the end of the most recent reporting period. 9.24% of the stock is owned by hedge funds and other institutional investors.

Momentus Stock Up 0.5%

Shares of Momentus stock traded up $0.08 during trading on Monday, hitting $16.93. The stock had a trading volume of 4,956,226 shares, compared to its average volume of 4,407,441. The stock has a 50 day simple moving average of $6.09 and a 200 day simple moving average of $7.62. The company has a market capitalization of $178.60 million, a PE ratio of -0.39 and a beta of 2.19. Momentus has a 1 year low of $3.11 and a 1 year high of $43.55.

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