Momentus Inc. (NASDAQ:MNTS) Short Interest Down 43.5% in June

Momentus Inc. (NASDAQ:MNTS) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totaling 1,691,283 shares, a decline of 43.5% from the May 31st total of 2,993,305 shares. Approximately 16.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,995,092 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Momentus stock. Armistice Capital LLC raised its position in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the period. 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.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a report on Tuesday, April 21st. Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Momentus presently has a consensus rating of “Sell”.

Momentus Price Performance

Shares of NASDAQ:MNTS traded down $0.22 during midday trading on Wednesday, reaching $6.50. The company’s stock had a trading volume of 1,916,556 shares, compared to its average volume of 5,553,782. The business’s fifty day simple moving average is $9.02 and its 200-day simple moving average is $7.24. Momentus has a fifty-two week low of $3.11 and a fifty-two week high of $43.55. The company has a market capitalization of $122.46 million, a P/E ratio of -0.15 and a beta of 2.27.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($2.15) earnings per share (EPS) for the quarter. Momentus had a negative return on equity of 401.62% and a negative net margin of 843.77%.The company had revenue of $3.21 million for the quarter.

About Momentus

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.