Short Interest in Momentus Inc. (NASDAQ:MNTS) Declines By 92.3%

Momentus Inc. (NASDAQ:MNTS) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 255,400 shares, a drop of 92.3% from the May 31st total of 3,330,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 2,640,000 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Momentus

An institutional investor recently bought a new position in Momentus stock. Armistice Capital LLC bought a new stake in Momentus Inc. (NASDAQ:MNTS) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 492,000 shares of the company’s stock, valued at approximately $851,000. Armistice Capital LLC owned 5.94% of Momentus at the end of the most recent reporting period. 9.24% of the stock is currently owned by institutional investors.

Momentus Stock Performance

NASDAQ MNTS traded down $0.01 on Friday, reaching $0.54. 91,428 shares of the company’s stock traded hands, compared to its average volume of 2,391,222. Momentus has a fifty-two week low of $0.35 and a fifty-two week high of $23.48. The firm has a market cap of $8.91 million, a price-to-earnings ratio of -0.01 and a beta of 0.83. The stock has a 50 day moving average price of $0.55 and a 200-day moving average price of $0.79.

About Momentus

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.