Momentus (NASDAQ:MNTS) Posts Earnings Results

Momentus (NASDAQ:MNTS) announced its quarterly earnings results on Tuesday. The company reported $16.59 EPS for the quarter, FiscalAI reports. The firm had revenue of $0.36 million for the quarter.

Momentus Stock Down 0.0%

Shares of Momentus stock traded down $0.00 on Wednesday, reaching $3.68. The stock had a trading volume of 107,710 shares, compared to its average volume of 2,888,500. The stock has a market capitalization of $5.15 million, a P/E ratio of -0.05 and a beta of 1.10. The company has a 50 day moving average price of $5.26 and a 200 day moving average price of $12.39. Momentus has a 1 year low of $3.38 and a 1 year high of $43.55.

Analyst Upgrades and Downgrades

MNTS has been the topic of several recent research reports. Wall Street Zen cut shares of Momentus from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Momentus currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC grew its position in Momentus Inc. (NASDAQ:MNTS) by 199.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the quarter. Armistice Capital LLC owned about 12.62% of Momentus worth $966,000 at the end of the most recent reporting period. 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.