Momentus Inc. (NASDAQ:MNTS) Short Interest Up 56.6% in February

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

Momentus Stock Performance

Momentus stock traded down $0.36 during midday trading on Monday, reaching $4.14. The company’s stock had a trading volume of 328,088 shares, compared to its average volume of 4,179,535. The firm has a market capitalization of $5.80 million, a PE ratio of -0.06 and a beta of 1.11. Momentus has a fifty-two week low of $4.10 and a fifty-two week high of $50.34. The stock’s 50 day simple moving average is $7.08 and its 200 day simple moving average is $15.44.

Institutional Investors Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC raised its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after acquiring an additional 527,773 shares during the quarter. Armistice Capital LLC owned approximately 12.62% of Momentus worth $966,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 9.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Momentus from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus 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.