Momentus (NASDAQ:MNTS) Stock Jumps 2.1% – Still a Buy?

Momentus Inc. (NASDAQ:MNTS)’s stock price was up 2.1% during trading on Wednesday. The stock traded as high as $2.50 and last traded at $2.40. 373,780 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 654,359 shares. The stock had previously closed at $2.35.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MNTS shares. Alliance Global Partners began coverage on Momentus in a research report on Thursday, August 13th. They set a “buy” rating and a $8.00 price objective for the company. Wall Street Zen cut shares of Momentus from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.00.

Momentus Price Performance

The firm has a fifty day moving average of $3.82 and a 200-day moving average of $6.02. The stock has a market capitalization of $47.21 million, a price-to-earnings ratio of -0.10 and a beta of 2.43.

Momentus (NASDAQ:MNTS) last posted its earnings results on Tuesday, August 11th. The company reported ($0.70) EPS for the quarter, hitting analysts’ consensus estimates of ($0.70). Momentus had a negative return on equity of 90.19% and a negative net margin of 927.68%. The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.03 million. As a group, research analysts forecast that Momentus Inc. will post -3.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Momentus

A hedge fund recently bought a new position in Momentus stock. Engineers Gate Manager LP bought a new position in shares of Momentus Inc. (NASDAQ:MNTS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,300 shares of the company’s stock, valued at approximately $103,000. Engineers Gate Manager LP owned about 0.07% of Momentus at the end of the most recent quarter. Hedge funds and other institutional investors own 9.24% of the company’s stock.

About Momentus

Momentus Inc is a space infrastructure company that provides in-space transportation and related services for commercial, civil and government customers. The company is focused on moving spacecraft and payloads between orbits after launch, helping customers deploy satellites, conduct technology demonstrations and support other missions in space.

Its primary platform is the Vigoride Orbital Service Vehicle, which is designed to transport and host payloads in orbit. Vigoride can support satellite deployment, hosted payloads and other in-space services.