Momentus (NASDAQ:MNTS) Releases Earnings Results

Momentus (NASDAQ:MNTS) announced its earnings results on Tuesday. The company reported $16.59 EPS for the quarter, FiscalAI reports. The business had revenue of $0.36 million for the quarter.

Momentus Stock Down 2.4%

MNTS stock traded down $0.09 during trading on Tuesday, hitting $3.68. 598,567 shares of the company’s stock traded hands, compared to its average volume of 2,934,921. The business has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $12.51. The firm has a market capitalization of $5.15 million, a P/E ratio of -0.05 and a beta of 1.11. Momentus has a 1 year low of $3.38 and a 1 year high of $43.55.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

MNTS has been the topic of several recent analyst reports. Wall Street Zen cut Momentus from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Momentus in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.