Momentus Inc. (NASDAQ:MNTS) Short Interest Down 91.9% in December

by · The Cerbat Gem

Momentus Inc. (NASDAQ:MNTS – Get Free Report) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 158,873 shares, a drop of 91.9% from the December 15th total of 1,970,344 shares. Approximately 11.4% of the company’s stock are short sold. Based on an average daily volume of 1,132,590 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 1,132,590 shares, the short-interest ratio is currently 0.1 days. Approximately 11.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC lifted its stake in shares of Momentus Inc. (NASDAQ:MNTS – Free Report) by 199.7% in the 2nd quarter, according to 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 quarter. 9.24% of the stock is owned by institutional investors.

Momentus Trading Down 14.0%

Shares of MNTS stock traded down $1.45 during trading hours on Tuesday, reaching $8.90. 1,019,176 shares of the company’s stock were exchanged, compared to its average volume of 14,470,128. Momentus has a fifty-two week low of $4.73 and a fifty-two week high of $160.65. The stock’s 50 day moving average is $11.76 and its 200-day moving average is $18.98. The company has a market cap of $12.45 million, a price-to-earnings ratio of -0.13 and a beta of 0.97.

Momentus (NASDAQ:MNTS – Get Free Report) last announced its earnings results on Wednesday, November 19th. The company reported ($19.28) earnings per share (EPS) for the quarter. The company had revenue of $0.23 million during the quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on MNTS shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a research report on Wednesday, October 8th. Wall Street Zen upgraded Momentus from a “sell” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Check Out Our Latest Analysis on MNTS

Momentus Company Profile

(Get Free Report)

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.

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