Momentus (NASDAQ:MNTS) Trading Down 5.9% – Here’s Why

Momentus Inc. (NASDAQ:MNTS) shares fell 5.9% during trading on Monday . The stock traded as low as $1.27 and last traded at $1.28. 153,518 shares were traded during trading, a decline of 77% from the average session volume of 679,725 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Momentus from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Momentus Trading Down 5.9%

The company’s fifty day moving average is $1.70 and its 200 day moving average is $3.62.

Momentus (NASDAQ:MNTS) last announced its earnings results on Thursday, May 15th. The company reported ($1.64) EPS for the quarter. The company had revenue of $0.32 million for the quarter.

Institutional Trading of Momentus

An institutional investor recently raised its position in Momentus stock. JPMorgan Chase & Co. raised its position in Momentus Inc. (NASDAQ:MNTS) by 165,960.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,303 shares of the company’s stock after acquiring an additional 8,298 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.30% of Momentus worth $66,000 at the end of the most recent reporting period. 9.24% of the stock is owned by 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.