Wall Street Zen Downgrades Momentus (NASDAQ:MNTS) to Sell

Momentus (NASDAQ:MNTS) was downgraded by research analysts 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 report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Momentus Price Performance

MNTS stock opened at $5.91 on Friday. Momentus has a twelve month low of $3.11 and a twelve month high of $43.55. The firm has a market cap of $111.34 million, a PE ratio of -0.14 and a beta of 2.26. The business has a 50 day moving average of $9.03 and a 200 day moving average of $7.10.

Momentus (NASDAQ:MNTS) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($2.15) earnings per share (EPS) for the quarter. Momentus had a negative net margin of 843.77% and a negative return on equity of 401.62%. The company had revenue of $3.21 million for the quarter.

Institutional Investors Weigh In On Momentus

A hedge fund recently raised its position in Momentus stock. Armistice Capital LLC lifted its position in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after acquiring an additional 527,773 shares during the period. Armistice Capital LLC owned approximately 12.62% of Momentus worth $966,000 as of its most recent filing with the Securities & Exchange Commission. 9.24% of the stock is currently owned by institutional investors and hedge funds.

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.