Short Interest in Momentus Inc. (NASDAQ:MNTS) Drops By 24.7%

Momentus Inc. (NASDAQ:MNTS) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,400,000 shares, a drop of 24.7% from the October 15th total of 1,860,000 shares. Approximately 5.9% of the shares of the company are short sold. Based on an average trading volume of 15,480,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Momentus stock. Virtu Financial LLC grew its position in shares of Momentus Inc. (NASDAQ:MNTS) by 142.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 78,955 shares of the company’s stock after purchasing an additional 46,392 shares during the quarter. Virtu Financial LLC owned 0.66% of Momentus worth $34,000 as of its most recent filing with the SEC. 9.24% of the stock is currently owned by institutional investors.

Momentus Stock Performance

Shares of NASDAQ MNTS traded up $0.04 during midday trading on Friday, hitting $0.67. 1,057,732 shares of the company’s stock were exchanged, compared to its average volume of 6,002,167. Momentus has a twelve month low of $0.35 and a twelve month high of $3.32. The stock’s 50 day moving average price is $0.56 and its 200-day moving average price is $0.58.

Momentus (NASDAQ:MNTS) last released its quarterly earnings results on Tuesday, October 15th. The company reported ($0.66) earnings per share (EPS) for the quarter. The business had revenue of $0.51 million during the quarter. Momentus had a negative return on equity of 1,945.42% and a negative net margin of 1,445.82%.

Momentus Company Profile

Momentus Inc, together with its subsidiaries, operates as a commercial space company. The company focuses on providing in-space infrastructure services, including in-space transportation, hosted payloads, and in-orbit services. Its principal and target customers include satellite operators. The company is headquartered in San Jose, California.