Momentus (NASDAQ:MNTS) Cut to “Sell” at Zacks Investment Research

Momentus (NASDAQ:MNTSGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Momentus Inc. is a U.S. commercial space company which plans to offer in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus Inc., formerly known as Stable Road Acquisition Corp., is based in VENICE, Calif. “

Separately, Deutsche Bank Aktiengesellschaft dropped their price target on Momentus from $8.00 to $7.00 in a report on Wednesday, May 11th.

Shares of MNTS opened at $2.66 on Tuesday. Momentus has a 1 year low of $1.85 and a 1 year high of $14.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.16 and a quick ratio of 4.16. The stock has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $4.42.

Momentus (NASDAQ:MNTSGet Rating) last issued its earnings results on Tuesday, March 8th. The company reported ($0.05) earnings per share (EPS) for the quarter. As a group, research analysts forecast that Momentus will post -1.19 earnings per share for the current year.

In other Momentus news, major shareholder Movers Lab Fund I. Lp Prime sold 388,909 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $2.69, for a total value of $1,046,165.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.75% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its position in shares of Momentus by 14.2% in the 1st quarter. Morgan Stanley now owns 37,671 shares of the company’s stock worth $499,000 after purchasing an additional 4,680 shares during the last quarter. Credit Suisse AG bought a new position in shares of Momentus in the 4th quarter worth $110,000. Seelaus Asset Management LLC bought a new position in shares of Momentus in the 1st quarter worth $32,000. Sigma Planning Corp boosted its position in shares of Momentus by 77.1% in the 1st quarter. Sigma Planning Corp now owns 28,775 shares of the company’s stock worth $92,000 after purchasing an additional 12,525 shares during the last quarter. Finally, Chicago Capital LLC bought a new position in shares of Momentus in the 1st quarter worth $758,000. Hedge funds and other institutional investors own 8.07% of the company’s stock.

About Momentus (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.

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