Momentus (NASDAQ:MNTS) Earns Buy Rating from Analysts at Alliance Global Partners

Research analysts at Alliance Global Partners began coverage on shares of Momentus (NASDAQ:MNTS) in a report issued on Thursday. The brokerage set a “buy” rating and a $8.00 price target on the stock. Alliance Global Partners’ price target would indicate a potential upside of 64.61% from the company’s current price.

Other research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Momentus in a research note on Friday, July 17th. Wall Street Zen downgraded Momentus from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Momentus Trading Up 1.0%

MNTS opened at $4.86 on Thursday. Momentus has a 1-year low of $3.11 and a 1-year high of $43.55. The company has a market cap of $91.56 million, a P/E ratio of -0.11 and a beta of 2.31. The company has a fifty day moving average price of $7.15 and a two-hundred day moving average price of $6.46.

Momentus (NASDAQ:MNTS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.70) earnings per share (EPS) for the quarter. The company had revenue of $0.03 million for the quarter. Momentus had a negative return on equity of 244.86% and a negative net margin of 927.68%.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its stake in Momentus stock. Armistice Capital LLC grew its position in shares of Momentus Inc. (NASDAQ:MNTS) by 199.7% during the second quarter, according to its most recent 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 quarter. Armistice Capital LLC owned 12.62% of Momentus worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.24% of the stock is owned by hedge funds and other institutional investors.

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.