Short Interest in Momentus Inc. (NASDAQ:MNTS) Grows By 90.7%

Momentus Inc. (NASDAQ:MNTS) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 1,970,344 shares, an increase of 90.7% from the November 30th total of 1,033,025 shares. Based on an average daily volume of 16,033,235 shares, the short-interest ratio is presently 0.1 days. Approximately 142.1% of the shares of the stock are short sold. Approximately 142.1% of the shares of the stock are short sold. Based on an average daily volume of 16,033,235 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC grew its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 21.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,227 shares of the company’s stock after acquiring an additional 46,968 shares during the quarter. Armistice Capital LLC owned 5.03% of Momentus worth $528,000 at the end of the most recent quarter. 9.24% of the stock is owned by hedge funds and other institutional investors.

Momentus Stock Performance

Shares of NASDAQ MNTS traded down $0.78 during mid-day trading on Friday, reaching $6.22. 325,275 shares of the company were exchanged, compared to its average volume of 839,899. Momentus has a 52 week low of $5.98 and a 52 week high of $174.56. The company’s 50 day moving average price is $14.70 and its 200 day moving average price is $20.30.

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

Wall Street Analyst Weigh In

MNTS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Momentus from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

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.