Short Interest in Momentus Inc. (NASDAQ:MNTS) Rises By 48.1%

Momentus Inc. (NASDAQ:MNTS) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 383,000 shares, an increase of 48.1% from the February 28th total of 258,600 shares. Approximately 12.1% of the shares of the stock are sold short. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. JPMorgan Chase & Co. boosted its holdings in Momentus Inc. (NASDAQ:MNTS) by 165,960.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,303 shares of the company’s stock after buying an additional 8,298 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.30% of Momentus worth $66,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.24% of the company’s stock.

Momentus Price Performance

Shares of MNTS stock traded down $0.16 on Friday, hitting $1.95. 161,337 shares of the company’s stock were exchanged, compared to its average volume of 663,992. Momentus has a 12 month low of $1.56 and a 12 month high of $28.56. The company has a 50 day moving average of $3.65 and a 200 day moving average of $6.29.

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.