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

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

Momentus Price Performance

NASDAQ:MNTS opened at $2.00 on Tuesday. Momentus has a twelve month low of $1.56 and a twelve month high of $28.56. The company’s 50-day moving average price is $3.56 and its 200-day moving average price is $6.24.

Hedge Funds Weigh In On Momentus

A hedge fund recently raised its stake in Momentus stock. JPMorgan Chase & Co. increased its holdings in Momentus Inc. (NASDAQ:MNTS) by 165,960.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,303 shares of the company’s stock after acquiring an additional 8,298 shares during the period. JPMorgan Chase & Co. owned approximately 0.30% of Momentus worth $66,000 at the end of the most recent quarter. 9.24% of the stock is owned by institutional investors.

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.