Short Interest in Momentus Inc. (NASDAQ:MNTS) Drops By 40.7%

Momentus Inc. (NASDAQ:MNTS) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 258,600 shares, a decrease of 40.7% from the February 13th total of 436,000 shares. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 8.2% of the company’s shares are sold short.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. JPMorgan Chase & Co. increased its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 165,960.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,303 shares of the company’s stock after buying an additional 8,298 shares during the period. JPMorgan Chase & Co. owned about 0.30% of Momentus worth $66,000 at the end of the most recent quarter. Institutional investors own 9.24% of the company’s stock.

Momentus Stock Performance

Shares of MNTS stock traded up $0.07 during trading hours on Friday, hitting $1.75. The company had a trading volume of 379,788 shares, compared to its average volume of 656,558. The company’s fifty day moving average is $4.70 and its 200 day moving average is $6.95. Momentus has a fifty-two week low of $1.56 and a fifty-two week high of $28.56.

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.