Chris Hadfield Purchases 2,000 Shares of Momentus (NASDAQ:MNTS) Stock

Momentus Inc. (NASDAQ:MNTS) Director Chris Hadfield purchased 2,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were purchased at an average price of $7.19 per share, with a total value of $14,380.00. Following the transaction, the director directly owned 3,500 shares of the company’s stock, valued at approximately $25,165. The trade was a 133.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Chris Hadfield also recently made the following trade(s):

• On Friday, May 15th, Chris Hadfield purchased 1,500 shares of Momentus stock. The shares were purchased at an average price of $5.32 per share, with a total value of $7,980.00.

Momentus Stock Performance

Momentus stock opened at $19.50 on Thursday. The company has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $7.60. The firm has a market capitalization of $194.81 million, a P/E ratio of -0.45 and a beta of 1.33. Momentus Inc. has a one year low of $3.11 and a one year high of $43.55.

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%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MNTS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Momentus from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Momentus News Roundup

Here are the key news stories impacting Momentus this week:

• Positive Sentiment: Momentum in space stocks tied to the coming SpaceX IPO has lifted sentiment toward Momentus, with investors betting the stock could benefit from broader enthusiasm for the sector. Space stocks soar to record levels ahead of SpaceX IPO
• Positive Sentiment: Director Chris Hadfield bought 2,000 shares, following an earlier purchase of 1,500 shares, signaling insider confidence in Momentus at current levels. Momentus insider trades
• Positive Sentiment: Short interest fell 47.9% in May to 597,365 shares, reducing potential downside pressure from bearish traders. Momentus stock data
• Neutral Sentiment: Momentus priced a $25 million private placement of common stock, which strengthens the balance sheet but may weigh on per-share value because of new share issuance. Momentus Announces Pricing of a $25 Million Private Placement of Common Stock
• Negative Sentiment: The company continues to face weak fundamentals, including a recent quarterly loss of $2.15 per share and only $3.22 million in revenue, alongside a “sell” analyst rating. Momentus financials and analyst views

Hedge Funds Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC boosted its stake in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter. 9.24% of the stock is owned by hedge funds and other institutional investors.

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.