Momentus Inc. (NASDAQ:MNTS) Sees Significant Increase in Short Interest

Momentus Inc. (NASDAQ:MNTS) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 317,894 shares, a growth of 56.6% from the January 29th total of 203,061 shares. Currently, 22.8% of the company’s stock are short sold. Based on an average daily trading volume, of 3,723,230 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 3,723,230 shares, the days-to-cover ratio is presently 0.1 days. Currently, 22.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC boosted its stake in Momentus Inc. (NASDAQ:MNTS) by 199.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 792,000 shares of the company’s stock after buying an additional 527,773 shares during the quarter. Armistice Capital LLC owned approximately 12.62% of Momentus worth $966,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 9.24% of the company’s stock.

Momentus Stock Performance

MNTS opened at $4.50 on Friday. The business’s 50-day simple moving average is $7.08 and its 200-day simple moving average is $15.47. Momentus has a one year low of $4.27 and a one year high of $50.34. The company has a market cap of $6.30 million, a P/E ratio of -0.06 and a beta of 1.05.

Analyst Upgrades and Downgrades

MNTS has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Momentus from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Momentus presently 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.