Momentus (NASDAQ:MNTS) Stock Rating Lowered by Wall Street Zen

Momentus (NASDAQ:MNTS) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, Momentus presently has a consensus rating of “Sell”.

Momentus Trading Up 17.9%

Shares of NASDAQ MNTS opened at $5.74 on Friday. The stock has a fifty day simple moving average of $12.94 and a two-hundred day simple moving average of $19.58. Momentus has a 1-year low of $4.73 and a 1-year high of $174.56. The firm has a market cap of $8.04 million, a price-to-earnings ratio of -0.08 and a beta of 0.97.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings results on Wednesday, November 19th. The company reported ($19.28) EPS for the quarter. The firm had revenue of $0.23 million during the quarter.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC lifted its stake in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the quarter. Armistice Capital LLC owned 12.62% of Momentus worth $966,000 as of its most recent SEC filing. Hedge funds and other 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.