Momentus Inc. (NASDAQ:MNTS) Short Interest Up 47.4% in January

Momentus Inc. (NASDAQ:MNTS) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 234,199 shares, a growth of 47.4% from the December 31st total of 158,873 shares. Based on an average daily volume of 11,594,081 shares, the days-to-cover ratio is presently 0.0 days. Currently, 16.8% of the shares of the stock are short sold. Currently, 16.8% of the shares of the stock are short sold. Based on an average daily volume of 11,594,081 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC grew its stake in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 792,000 shares of the company’s stock after acquiring an additional 527,773 shares during the quarter. Armistice Capital LLC owned 12.62% of Momentus worth $966,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.24% of the company’s stock.

Momentus Stock Performance

Shares of Momentus stock opened at $7.18 on Friday. The firm has a fifty day moving average of $9.77 and a two-hundred day moving average of $17.68. The stock has a market capitalization of $10.05 million, a price-to-earnings ratio of -0.10 and a beta of 0.97. Momentus has a 52 week low of $4.73 and a 52 week high of $113.35.

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

Analyst Ratings Changes

Several research firms have issued reports on MNTS. Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

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.