Momentus (NASDAQ:MNTS) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Momentus (NASDAQ:MNTS) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Momentus Stock Down 4.3%

Shares of MNTS stock traded down $0.04 during trading hours on Friday, hitting $0.78. 462,859 shares of the company’s stock traded hands, compared to its average volume of 1,423,577. The stock has a market cap of $17.83 million, a PE ratio of -0.09 and a beta of 1.24. The stock’s 50 day simple moving average is $1.24 and its 200 day simple moving average is $1.36. Momentus has a 12 month low of $0.76 and a 12 month high of $11.70.

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

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC grew its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 21.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 264,227 shares of the company’s stock after buying an additional 46,968 shares during the period. Armistice Capital LLC owned approximately 5.03% of Momentus worth $528,000 as of its most recent filing with the SEC. 9.24% of the stock is owned by institutional investors and hedge funds.

Momentus Company Profile

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.