Momentus (NASDAQ:MNTS) Stock Price Up 3% – Time to Buy?

Momentus Inc. (NASDAQ:MNTS) rose 3% during mid-day trading on Wednesday . The stock traded as high as $1.37 and last traded at $1.36. Approximately 529,128 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 559,891 shares. The stock had previously closed at $1.32.

Momentus Price Performance

The firm’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $1.52.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings data on Tuesday, August 19th. The company reported ($1.23) earnings per share (EPS) for the quarter. The firm had revenue of $0.19 million during the quarter.

Institutional Trading of Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC lifted its stake in shares of Momentus Inc. (NASDAQ:MNTS) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,227 shares of the company’s stock after acquiring an additional 46,968 shares during the period. Armistice Capital LLC owned 5.03% of Momentus worth $528,000 as of its most recent SEC filing. 9.24% of the stock is currently owned by institutional investors.

About Momentus

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.