Shares of Momentus Inc. (NASDAQ:MNTS – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $9.01, but opened at $8.53. Momentus shares last traded at $8.46, with a volume of 8,093 shares traded.
Momentus Stock Down 8.1 %
The company has a market cap of $16.23 million, a price-to-earnings ratio of -0.17 and a beta of 0.87. The stock has a fifty day moving average price of $16.09 and a two-hundred day moving average price of $22.83.
Institutional Investors Weigh In On Momentus
Hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Momentus during the first quarter worth $36,000. Blair William & Co. IL bought a new stake in Momentus during the first quarter worth about $55,000. NewEdge Advisors LLC acquired a new stake in Momentus during the second quarter worth about $41,000. American International Group Inc. bought a new position in Momentus in the 2nd quarter valued at about $55,000. Finally, LPL Financial LLC acquired a new position in shares of Momentus in the 2nd quarter valued at approximately $59,000. Institutional investors and hedge funds own 69.82% of the company’s stock.
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.
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