Momentus (NASDAQ:MNTS) Stock Price Down 2.4% – Time to Sell?

Momentus Inc. (NASDAQ:MNTS)’s stock price was down 2.4% during trading on Tuesday . The company traded as low as $0.53 and last traded at $0.55. Approximately 1,502,221 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 6,082,066 shares. The stock had previously closed at $0.57.

Momentus Price Performance

The business has a 50-day moving average of $0.60 and a 200 day moving average of $0.57.

Momentus (NASDAQ:MNTS) last posted its earnings results on Tuesday, October 15th. The company reported ($0.66) EPS for the quarter. The firm 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%.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. Virtu Financial LLC boosted its stake in shares of Momentus Inc. (NASDAQ:MNTS) by 142.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,955 shares of the company’s stock after acquiring an additional 46,392 shares during the quarter. Virtu Financial LLC owned about 0.66% of Momentus worth $34,000 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, 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.