Momentus Inc. (NASDAQ:MNTS) Short Interest Down 36.0% in June

Momentus Inc. (NASDAQ:MNTS) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 1,082,222 shares, a drop of 36.0% from the June 15th total of 1,691,283 shares. Based on an average trading volume of 3,200,313 shares, the days-to-cover ratio is presently 0.3 days. Currently, 5.8% of the company’s shares are sold short.

Institutional Trading of Momentus

An institutional investor recently raised its stake in Momentus stock. Armistice Capital LLC lifted its position in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing. Institutional investors own 9.24% of the company’s stock.

Momentus Stock Up 7.4%

Shares of MNTS traded up $0.36 during mid-day trading on Friday, hitting $5.23. The company had a trading volume of 714,481 shares, compared to its average volume of 4,350,660. The business’s 50-day simple moving average is $9.17 and its 200-day simple moving average is $6.99. Momentus has a 1-year low of $3.11 and a 1-year high of $43.55. The stock has a market cap of $98.53 million, a PE ratio of -0.12 and a beta of 2.26.

Momentus (NASDAQ:MNTS) last released its 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 during the quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a report on Tuesday, April 21st. Wall Street Zen cut Momentus from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Momentus has a consensus 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.