Momentus (NASDAQ:MNTS) Releases Earnings Results

Momentus (NASDAQ:MNTS) announced its quarterly earnings results on Tuesday. The company reported ($0.70) earnings per share for the quarter, FiscalAI reports. The company had revenue of $0.03 million during the quarter. Momentus had a negative net margin of 843.77% and a negative return on equity of 401.62%.

Momentus Stock Performance

NASDAQ MNTS traded down $0.03 on Wednesday, reaching $4.78. The company had a trading volume of 532,551 shares, compared to its average volume of 3,976,228. The company’s fifty day moving average is $7.32 and its 200-day moving average is $6.48. The firm has a market capitalization of $90.04 million, a price-to-earnings ratio of -0.11 and a beta of 2.31. Momentus has a 1-year low of $3.11 and a 1-year high of $43.55.

Analysts Set New Price Targets

Several analysts have recently commented on MNTS shares. Wall Street Zen cut Momentus from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Momentus in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC lifted its position in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to its most recent disclosure 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 about 12.62% of Momentus worth $966,000 as of its most recent SEC filing. Institutional investors own 9.24% of the company’s stock.

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.