Short Interest in Momentus Inc. (NASDAQ:MNTS) Declines By 91.9%

Momentus Inc. (NASDAQ:MNTS) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 158,873 shares, a decline of 91.9% from the December 15th total of 1,970,344 shares. Currently, 11.4% of the company’s stock are sold short. Based on an average trading volume of 1,132,590 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 1,132,590 shares, the days-to-cover ratio is currently 0.1 days. Currently, 11.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC raised its stake in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent SEC filing. Institutional investors and hedge funds own 9.24% of the company’s stock.

Momentus Price Performance

MNTS traded down $0.18 on Wednesday, reaching $9.32. The company’s stock had a trading volume of 1,059,116 shares, compared to its average volume of 13,051,940. Momentus has a 1 year low of $4.73 and a 1 year high of $160.65. The business’s 50 day moving average is $11.57 and its 200 day moving average is $18.87. The stock has a market cap of $13.05 million, a price-to-earnings ratio of -0.13 and a beta of 0.97.

Momentus (NASDAQ:MNTS) last announced its earnings results on Wednesday, November 19th. The company reported ($19.28) earnings per share (EPS) for the quarter. The business had revenue of $0.23 million during the quarter.

Wall Street Analysts Forecast Growth

MNTS has been the subject of several recent research reports. Wall Street Zen upgraded Momentus from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average 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.