Momentus (NASDAQ:MNTS) Trading 3.2% Higher

Momentus Inc. (NASDAQ:MNTS)’s stock price rose 3.2% during trading on Wednesday . The company traded as high as $0.40 and last traded at $0.39. Approximately 281,314 shares traded hands during trading, a decline of 84% from the average daily volume of 1,750,669 shares. The stock had previously closed at $0.38.

Momentus Stock Performance

The business’s fifty day moving average price is $0.57 and its 200 day moving average price is $1.64.

Hedge Funds Weigh In On Momentus

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Momentus by 310.0% in the fourth quarter. Vanguard Group Inc. now owns 193,948 shares of the company’s stock valued at $336,000 after buying an additional 146,638 shares during the period. Virtu Financial LLC acquired a new position in Momentus in the fourth quarter valued at $56,000. Armistice Capital LLC acquired a new position in Momentus in the fourth quarter valued at $851,000. Y Intercept Hong Kong Ltd acquired a new position in Momentus in the second quarter valued at $88,000. Finally, Two Sigma Securities LLC acquired a new position in Momentus in the second quarter valued at $48,000. Institutional investors and hedge funds own 9.24% of the company’s stock.

Momentus Company Profile

Momentus Inc, together with its subsidiaries, operates as a commercial space company. The company focuses on providing in-space infrastructure services, including in-space transportation, hosted payloads, and in-orbit services. Its principal and target customers include satellite operators. The company is headquartered in San Jose, California.