Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTS) was the recipient of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 2,993,305 shares, an increase of 401.1% from the May 14th total of 597,365 shares. Based on an average daily volume of 17,816,128 shares, the short-interest ratio is presently 0.2 days. Currently, 28.4% of the company’s shares are short sold.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC raised its stake in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to the company in its most recent 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 about 12.62% of Momentus worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.24% of the company’s stock.

Momentus Trading Down 10.6%

MNTS stock opened at $11.34 on Thursday. Momentus has a 12 month low of $3.11 and a 12 month high of $43.55. The company has a 50-day moving average price of $7.65 and a 200 day moving average price of $7.60. The stock has a market cap of $119.64 million, a PE ratio of -0.26 and a beta of 2.21.

Momentus (NASDAQ:MNTS) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($2.15) EPS 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%.

Analysts Set New Price Targets

A number of research firms recently commented on MNTS. Wall Street Zen raised shares of Momentus from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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.