Momentus (NASDAQ:MNTS) Shares Down 44.9% – What’s Next?

Momentus Inc. (NASDAQ:MNTS) fell 44.9% during mid-day trading on Monday . The company traded as low as $0.4426 and last traded at $0.4630. 14,055,897 shares changed hands during trading, an increase of 62% from the average session volume of 8,664,079 shares. The stock had previously closed at $0.84.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Momentus from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Momentus Trading Down 44.9%

The stock’s fifty day moving average is $1.00 and its 200 day moving average is $1.20. The company has a market capitalization of $11.18 million, a P/E ratio of -0.12 and a beta of 1.02.

Momentus shares are scheduled to reverse split on Wednesday, December 17th. The 20-357 reverse split was announced on Monday, December 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, December 16th.

Momentus (NASDAQ:MNTS) last posted its earnings results on Wednesday, November 19th. The company reported ($1.08) EPS for the quarter. The firm had revenue of $0.23 million for the quarter.

Institutional Trading of Momentus

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

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.