Momentus Inc. (NASDAQ:MNTS) Short Interest Update

Momentus Inc. (NASDAQ:MNTSGet Rating) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,670,000 shares, an increase of 33.5% from the March 15th total of 2,000,000 shares. Based on an average trading volume of 4,140,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 5.2% of the shares of the company are sold short.

In other news, major shareholder Movers Lab Fund I. Lp Prime sold 218,575 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $3.37, for a total value of $736,597.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Movers Lab Fund I. Lp Prime sold 388,909 shares of Momentus stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $2.69, for a total value of $1,046,165.21. The disclosure for this sale can be found here. 21.75% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MNTS. Credit Suisse AG bought a new stake in shares of Momentus in the 4th quarter valued at approximately $110,000. Seelaus Asset Management LLC bought a new stake in shares of Momentus in the 1st quarter valued at approximately $32,000. Finally, Morgan Stanley grew its stake in shares of Momentus by 14.2% in the 1st quarter. Morgan Stanley now owns 37,671 shares of the company’s stock valued at $499,000 after buying an additional 4,680 shares in the last quarter. 8.07% of the stock is owned by institutional investors and hedge funds.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on Momentus in a research note on Monday, January 10th. They set a “buy” rating and a $10.00 target price on the stock.

NASDAQ:MNTS opened at $3.46 on Monday. Momentus has a fifty-two week low of $1.85 and a fifty-two week high of $14.69. The stock’s 50-day moving average is $2.82 and its two-hundred day moving average is $5.59.

Momentus (NASDAQ:MNTSGet Rating) last released its earnings results on Tuesday, March 8th. The company reported ($0.05) earnings per share for the quarter. As a group, equities analysts forecast that Momentus will post -1.15 earnings per share for the current fiscal year.

Momentus Company Profile (Get Rating)

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.

Further Reading

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