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

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

Momentus Stock Performance

Shares of NASDAQ:MNTS traded up $0.01 during mid-day trading on Friday, hitting $0.63. 1,855,881 shares of the company traded hands, compared to its average volume of 2,450,546. The firm’s 50 day simple moving average is $0.56 and its 200 day simple moving average is $0.58. Momentus has a 52-week low of $0.35 and a 52-week high of $3.32.

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

Hedge Funds Weigh In On Momentus

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

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.