Momentus (NASDAQ:MNTS) Now Covered by Alliance Global Partners

Key Points

• Alliance Global Partners initiated coverage of Momentus with a “buy” rating and an $8.00 price target, implying 64.61% upside from the stock’s cited price of $4.86.
• Analyst sentiment remains mixed: Momentus has one Buy and one Sell rating, resulting in an overall “Hold” consensus and an average price target of $8.00.
• Momentus reported a quarterly loss of $0.70 per share on just $0.03 million in revenue, while Armistice Capital increased its stake by 199.7% to 792,000 shares, or 12.62% of the company.

Alliance Global Partners began coverage on shares of Momentus (NASDAQ:MNTS - Get Free Report) in a research note issued to investors on Thursday. The firm set a "buy" rating and a $8.00 price target on the stock. Alliance Global Partners' price target indicates a potential upside of 64.61% from the stock's current price.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Momentus from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Momentus in a research report on Friday, July 17th. One investment 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 stock presently has an average rating of "Hold" and an average price target of $8.00.

Momentus Trading Up 1.0%

NASDAQ MNTS opened at $4.86 on Thursday. The firm has a market capitalization of $91.56 million, a PE ratio of -0.11 and a beta of 2.31. The business's 50-day moving average price is $7.15 and its two-hundred day moving average price is $6.46. Momentus has a 12 month low of $3.11 and a 12 month high of $43.55.

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

Institutional Investors Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. Armistice Capital LLC raised its holdings in Momentus Inc. (NASDAQ:MNTS - Free Report) by 199.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 792,000 shares of the company's stock after buying an additional 527,773 shares during the quarter. Armistice Capital LLC owned 12.62% of Momentus worth $966,000 as of its most recent SEC filing. Institutional investors own 9.24% of the company's stock.

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.

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