Momentus (NASDAQ:MNTS) Stock Price Up 2.1% - Here's What Happened

Key Points

• Momentus shares rose 2.1% to $2.40 in mid-day trading, although volume was 43% below the average session level.
• Analyst opinions remain mixed: Alliance Global Partners initiated coverage with a Buy rating and an $8 target, while Wall Street Zen and Weiss Ratings issued Sell ratings. The overall consensus is Hold.
• The company continues to show significant financial weakness, including a negative net margin of 927.68%, negative return on equity of 90.19%, and projected full-year EPS of -$3.57. Institutional investors own 9.24% of the stock.

Shares of Momentus Inc. (NASDAQ:MNTS - Get Free Report) rose 2.1% on Wednesday. The stock traded as high as $2.50 and last traded at $2.40. 373,780 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 654,359 shares. The stock had previously closed at $2.35.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MNTS shares. Alliance Global Partners assumed coverage on shares of Momentus in a research report on Thursday, August 13th. They set a "buy" rating and a $8.00 target price on the stock. Wall Street Zen cut shares of Momentus from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Momentus in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Momentus has a consensus rating of "Hold" and a consensus target price of $8.00.

Momentus Trading Up 2.1%

The business has a 50 day simple moving average of $3.88 and a two-hundred day simple moving average of $6.03. The stock has a market cap of $52.70 million, a price-to-earnings ratio of -0.11 and a beta of 2.43.

Momentus (NASDAQ:MNTS - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.70). Momentus had a negative net margin of 927.68% and a negative return on equity of 90.19%. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. Research analysts anticipate that Momentus Inc. will post -3.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Momentus

A hedge fund recently bought a new position in Momentus stock. Engineers Gate Manager LP acquired a new stake in shares of Momentus Inc. (NASDAQ:MNTS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,300 shares of the company's stock, valued at approximately $103,000. Engineers Gate Manager LP owned 0.07% of Momentus at the end of the most recent reporting period. Institutional investors own 9.24% of the company's stock.

Momentus Company Profile

Momentus Inc is a space infrastructure company that provides in-space transportation and related services for commercial, civil and government customers. The company is focused on moving spacecraft and payloads between orbits after launch, helping customers deploy satellites, conduct technology demonstrations and support other missions in space.

Its primary platform is the Vigoride Orbital Service Vehicle, which is designed to transport and host payloads in orbit. Vigoride can support satellite deployment, hosted payloads and other in-space services.

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