Wall Street Zen Upgrades Momentus (NASDAQ:MNTS) to “Hold”

Momentus (NASDAQ:MNTS) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Momentus Stock Down 13.1%

Shares of NASDAQ:MNTS opened at $16.85 on Friday. Momentus has a 12 month low of $3.11 and a 12 month high of $43.55. The company’s fifty day simple moving average is $6.09 and its 200 day simple moving average is $7.62. The firm has a market cap of $177.77 million, a price-to-earnings ratio of -0.39 and a beta of 1.33.

Momentus (NASDAQ:MNTS) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($2.15) EPS for the quarter. Momentus had a negative return on equity of 401.62% and a negative net margin of 843.77%.The company had revenue of $3.22 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC boosted its holdings in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the period. Armistice Capital LLC owned about 12.62% of Momentus worth $966,000 as of its most recent filing with the Securities and Exchange Commission. 9.24% of the stock is owned by hedge funds and other 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.