Short Interest in Momentus Inc. (NASDAQ:MNTS) Decreases By 43.5%

Momentus Inc. (NASDAQ:MNTS) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 1,691,283 shares, a drop of 43.5% from the May 31st total of 2,993,305 shares. Based on an average daily trading volume, of 7,995,092 shares, the short-interest ratio is currently 0.2 days. Approximately 16.1% of the company’s stock are sold short.

Momentus Price Performance

NASDAQ:MNTS opened at $5.91 on Friday. The stock has a market cap of $111.32 million, a price-to-earnings ratio of -0.14 and a beta of 2.27. The company’s 50 day moving average price is $9.03 and its 200-day moving average price is $7.16. Momentus has a 52 week low of $3.11 and a 52 week 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 (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 $3.21 million for the quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Momentus

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

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.