Momentus (NASDAQ:MNTS) Announces Quarterly Earnings Results

Momentus (NASDAQ:MNTS) posted its earnings results on Tuesday, August 11th. The company reported ($0.70) EPS for the quarter, meeting the consensus estimate of ($0.70), FiscalAI reports. Momentus had a negative return on equity of 90.19% and a negative net margin of 927.68%.The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.03 million.

Momentus Stock Performance

Shares of MNTS stock traded down $0.13 during trading on Friday, hitting $4.14. The company had a trading volume of 228,737 shares, compared to its average volume of 3,759,038. The firm has a market capitalization of $90.91 million, a P/E ratio of -0.19 and a beta of 2.31. The stock’s 50-day moving average price is $5.41 and its 200 day moving average price is $6.25. Momentus has a one year low of $3.11 and a one year high of $34.45.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a report on Friday, July 17th. Alliance Global Partners assumed coverage on shares of Momentus in a research note on Thursday, August 13th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Wall Street Zen lowered shares of Momentus from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Hedge Funds Weigh In On Momentus

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

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.