Momentus (NASDAQ:MNTS) Releases Earnings Results

Momentus (NASDAQ:MNTS) released its quarterly earnings data on Wednesday. The company reported ($2.15) earnings per share for the quarter, FiscalAI reports. Momentus had a negative net margin of 843.77% and a negative return on equity of 1,564.91%. The firm had revenue of $3.22 million during the quarter.

Momentus Trading Down 2.2%

Shares of MNTS traded down $0.12 during midday trading on Friday, reaching $5.44. 1,969,623 shares of the company were exchanged, compared to its average volume of 3,052,352. Momentus has a 1-year low of $3.11 and a 1-year high of $43.55. The stock has a 50-day moving average price of $4.67 and a 200-day moving average price of $8.33. The company has a market cap of $31.17 million, a price-to-earnings ratio of -0.08 and a beta of 1.33.

Analyst Upgrades and Downgrades

Several research firms recently commented on MNTS. Weiss Ratings restated a “sell (e+)” rating on shares of Momentus in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of Momentus from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Momentus currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Momentus

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

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.