Momentus Inc. (NASDAQ:MNTS) Sees Significant Decline in Short Interest

Momentus Inc. (NASDAQ:MNTS) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 243,150 shares, a drop of 23.5% from the February 12th total of 317,894 shares. Currently, 17.5% of the company’s stock are sold short. Based on an average daily trading volume, of 281,295 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 281,295 shares, the days-to-cover ratio is currently 0.9 days. Currently, 17.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Momentus

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

Momentus Stock Up 8.1%

MNTS stock traded up $0.33 on Monday, reaching $4.39. 221,188 shares of the company traded hands, compared to its average volume of 246,359. The firm has a fifty day simple moving average of $6.70 and a 200-day simple moving average of $13.94. Momentus has a one year low of $3.82 and a one year high of $43.55.

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.