Momentus Sees Unusually High Options Volume (NASDAQ:MNTS)

Key Points

• Unusually high bearish options activity: Traders purchased 1,657 put options in Momentus, 113% above the average volume of 777 contracts.
• Mixed analyst sentiment: Alliance Global Partners initiated coverage with a Buy rating and an $8 target, while Weiss Ratings and Wall Street Zen rated the stock Sell. The overall consensus is Hold with an average target price of $8.
• Shares rose but fundamentals remain weak: Momentus stock gained 5.5% to $4.41, but the company reported a $0.70 per-share loss, a negative 927.68% net margin, and only $0.03 million in quarterly revenue.

Momentus Inc. (NASDAQ:MNTS - Get Free Report) was the target of some unusual options trading on Monday. Traders acquired 1,657 put options on the stock. This is an increase of 113% compared to the average volume of 777 put options.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Momentus stock. Engineers Gate Manager LP bought a new position in Momentus Inc. (NASDAQ:MNTS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,300 shares of the company's stock, valued at approximately $103,000. Engineers Gate Manager LP owned approximately 0.07% of Momentus as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 9.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Alliance Global Partners began coverage on Momentus in a research report on Thursday, August 13th. They issued a "buy" rating and a $8.00 target price for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Momentus in a research report on Friday, July 17th. Finally, Wall Street Zen cut Momentus from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Momentus has a consensus rating of "Hold" and an average target price of $8.00.

Momentus Stock Up 5.5%

Shares of MNTS stock traded up $0.23 during trading hours on Monday, hitting $4.41. 233,239 shares of the company's stock traded hands, compared to its average volume of 3,497,340. The stock's fifty day simple moving average is $4.48 and its two-hundred day simple moving average is $6.14. Momentus has a 12-month low of $3.11 and a 12-month high of $34.45. The stock has a market cap of $96.86 million, a price-to-earnings ratio of -0.20 and a beta of 2.31.

Momentus (NASDAQ:MNTS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.70) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.70). Momentus had a negative return on equity of 90.19% and a negative net margin of 927.68%.The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million.

Momentus Company Profile

Momentus Inc is a space infrastructure company that develops and operates in-space transportation systems for satellites and other spacecraft. Its primary platform, the Vigoride orbital service vehicle, is designed to transport satellites and payloads from an initial launch orbit to specified destinations in space.

The company's services include satellite deployment, hosted payload missions, orbital delivery, and other in-space transportation and infrastructure capabilities. Momentus has also developed propulsion and spacecraft technologies intended to support missions such as orbit raising, satellite positioning, and the operation of scientific or commercial payloads.

Founded in 2017, Momentus became a publicly traded company in 2021 through a business combination with a special purpose acquisition company.

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