Momentus Inc. (NASDAQ:MNTS) Sees Large Increase in Short Interest

Momentus Inc. (NASDAQ:MNTS) saw a significant increase in short interest in February. As of February 13th, there was short interest totaling 317,894 shares, an increase of 56.6% from the January 29th total of 203,061 shares. Based on an average daily trading volume, of 3,723,230 shares, the days-to-cover ratio is presently 0.1 days. Approximately 22.8% of the shares of the stock are short sold. Approximately 22.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,723,230 shares, the days-to-cover ratio is presently 0.1 days.

Momentus Stock Down 8.0%

MNTS opened at $4.14 on Tuesday. The stock has a market cap of $5.78 million, a P/E ratio of -0.06 and a beta of 1.05. Momentus has a 12 month low of $4.10 and a 12 month high of $50.34. The company has a fifty day simple moving average of $6.98 and a 200 day simple moving average of $15.23.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MNTS. Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a report on Thursday, January 22nd. Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC grew its stake in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 792,000 shares of the company’s stock after buying 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 reporting period. 9.24% of the stock is owned by institutional investors.

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.