Momentus (NASDAQ:MNTS) Trading Down 2.4% – Here’s Why

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

Momentus Price Performance

The company has a 50-day simple moving average of $0.58 and a 200-day simple moving average of $0.57.

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

Institutional Trading of Momentus

A hedge fund recently raised its stake in Momentus stock. Virtu Financial LLC grew its holdings in Momentus Inc. (NASDAQ:MNTS) by 142.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,955 shares of the company’s stock after purchasing an additional 46,392 shares during the quarter. Virtu Financial LLC owned approximately 0.66% of Momentus worth $34,000 at the end of the most recent reporting period. 9.24% of the stock is 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.