Momentus (NASDAQ:MNTS) Announces Quarterly Earnings Results

Momentus (NASDAQ:MNTS) issued its quarterly earnings data on Wednesday. The company reported ($2.15) EPS for the quarter, FiscalAI reports. Momentus had a negative return on equity of 24,229.06% and a negative net margin of 2,744.86%.The company had revenue of $3.22 million for the quarter.

Momentus Stock Up 10.1%

NASDAQ MNTS opened at $5.88 on Thursday. The stock has a fifty day simple moving average of $4.65 and a 200 day simple moving average of $8.45. Momentus has a twelve month low of $3.11 and a twelve month high of $43.55. The company has a market capitalization of $33.69 million, a price-to-earnings ratio of -0.08 and a beta of 1.33.

Institutional Trading of Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC increased its position in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 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.

Analyst Upgrades and Downgrades

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

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.