Momentus (NASDAQ:MNTS) Research Coverage Started at Alliance Global Partners

Alliance Global Partners started coverage on shares of Momentus (NASDAQ:MNTS) in a research report released on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $8.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Momentus from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Momentus currently has an average rating of “Hold” and a consensus target price of $8.00.

Momentus Stock Performance

Shares of MNTS stock opened at $4.84 on Thursday. The firm has a market cap of $106.29 million, a price-to-earnings ratio of -0.11 and a beta of 2.31. Momentus has a 52 week low of $3.11 and a 52 week high of $34.45. The firm’s 50-day simple moving average is $6.73 and its two-hundred day simple moving average is $6.42.

Momentus (NASDAQ:MNTS) last released its earnings results on Tuesday, August 11th. The company reported ($0.70) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.70). Momentus had a negative net margin of 927.68% and a negative return on equity of 90.19%. The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.03 million.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its stake in Momentus stock. Armistice Capital LLC raised its holdings in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after purchasing 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.

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.