Momentus Inc. (NASDAQ:MNTS) Sees Significant Increase in Short Interest

Momentus Inc. (NASDAQ:MNTS) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 436,000 shares, an increase of 133.5% from the January 31st total of 186,700 shares. Approximately 13.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Momentus

A hedge fund recently raised its stake in Momentus stock. JPMorgan Chase & Co. increased its position 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 SEC. The firm owned 8,303 shares of the company’s stock after buying an additional 8,298 shares during the quarter. JPMorgan Chase & Co. owned about 0.30% of Momentus worth $66,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.24% of the company’s stock.

Momentus Stock Down 7.0 %

MNTS stock opened at $2.65 on Friday. The firm’s 50 day moving average price is $5.96 and its 200-day moving average price is $7.45. Momentus has a one year low of $2.40 and a one year high of $28.56.

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.