Momentus (NASDAQ:MNTS) Trading Down 44.9% – Here’s What Happened

Momentus Inc. (NASDAQ:MNTSGet Free Report)’s share price dropped 44.9% during mid-day trading on Monday . The company traded as low as $0.4426 and last traded at $0.4630. Approximately 14,055,897 shares were traded during trading, an increase of 62% from the average daily volume of 8,664,079 shares. The stock had previously closed at $0.84.

Analysts Set New Price Targets

Several brokerages have commented on MNTS. Wall Street Zen upgraded Momentus from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Momentus currently has an average rating of “Sell”.

View Our Latest Stock Analysis on Momentus

Momentus Stock Down 0.8%

The company has a market capitalization of $12.94 million, a price-to-earnings ratio of -0.13 and a beta of 1.02. The company’s fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $21.13.

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

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC increased its position in shares of Momentus Inc. (NASDAQ:MNTSFree Report) by 199.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing. 9.24% of the stock is owned by institutional investors and hedge funds.

About Momentus

(Get Free Report)

Momentus Inc, together with its subsidiaries, operates as a commercial space company. The company focuses on providing in-space infrastructure services, including in-space transportation, hosted payloads, and in-orbit services. Its principal and target customers include satellite operators. The company is headquartered in San Jose, California.

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