Momentus (NASDAQ:MNTS) Trading Down 1.2% - What's Next?

Key Points

• Momentus shares fell 1.2% to $4.15 in mid-day trading, with volume down 41% from the stock’s average daily volume. The stock remains below its 50-day and 200-day moving averages of $4.98 and $6.20, respectively.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an $8.00 target price. Alliance Global Partners initiated coverage with a Buy rating, while Wall Street Zen downgraded the stock to Sell and Weiss Ratings maintained a Sell rating.
• Momentus met quarterly expectations with an EPS loss of $0.70 and revenue of $0.03 million, but reported sharply negative profitability metrics. Meanwhile, Armistice Capital increased its stake by 199.7% to 792,000 shares, representing about 12.62% of the company.

Momentus Inc. (NASDAQ:MNTS - Get Free Report) dropped 1.2% during mid-day trading on Thursday . The company traded as low as $4.13 and last traded at $4.15. 579,031 shares traded hands during trading, a decline of 41% from the average daily volume of 984,947 shares. The stock had previously closed at $4.20.

Analyst Ratings Changes

MNTS has been the topic of a number of recent analyst reports. Alliance Global Partners initiated coverage on Momentus in a report on Thursday, August 13th. They issued a "buy" rating and a $8.00 price objective on the stock. Wall Street Zen cut Momentus from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Momentus in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Momentus currently has a consensus rating of "Hold" and a consensus target price of $8.00.

Momentus Trading Down 1.2%

The company's 50 day moving average is $4.98 and its 200 day moving average is $6.20. The stock has a market capitalization of $91.13 million, a price-to-earnings ratio of -0.19 and a beta of 2.31.

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

Institutional Trading of Momentus

An institutional investor recently raised its position in Momentus stock. Armistice Capital LLC increased its position in shares of Momentus Inc. (NASDAQ:MNTS - Free Report) by 199.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 792,000 shares of the company's stock after buying an additional 527,773 shares during the quarter. Armistice Capital LLC owned about 12.62% of Momentus worth $966,000 as of its most recent SEC filing. 9.24% of the stock is currently owned by hedge funds and other institutional investors.

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.

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