Momentus (NASDAQ:MNTS) Issues Earnings Results

Momentus (NASDAQ:MNTS) announced its quarterly earnings results on Tuesday. The company reported ($0.70) earnings per share (EPS) for the quarter, FiscalAI reports. Momentus had a negative return on equity of 244.86% and a negative net margin of 927.68%.The firm had revenue of $0.03 million during the quarter.

Momentus Stock Performance

NASDAQ MNTS traded down $0.02 during trading hours on Thursday, hitting $4.84. The company had a trading volume of 1,443,249 shares, compared to its average volume of 3,963,562. The firm has a market capitalization of $91.26 million, a price-to-earnings ratio of -0.11 and a beta of 2.31. Momentus has a 52 week low of $3.11 and a 52 week high of $34.45. The firm has a 50 day simple moving average of $7.15 and a 200 day simple moving average of $6.46.

Analyst Ratings Changes

MNTS has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Friday, July 17th. Alliance Global Partners initiated coverage on Momentus in a research note on Thursday. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Momentus from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

Hedge Funds Weigh In On Momentus

A hedge fund recently raised its position in Momentus stock. Armistice Capital LLC raised its position in Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 792,000 shares of the company’s stock after purchasing an additional 527,773 shares during the period. 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 currently owned by hedge funds and other institutional investors.

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.