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

Momentus Inc. (NASDAQ:MNTS) saw a large decrease in short interest in 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 daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 8.2% of the shares of the stock are sold short.

Institutional Trading of Momentus

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

Momentus Price Performance

Shares of NASDAQ:MNTS traded up $0.07 during midday trading on Friday, reaching $1.75. 379,788 shares of the company’s stock were exchanged, compared to its average volume of 658,954. Momentus has a 12 month low of $1.56 and a 12 month high of $28.56. The company’s 50 day simple moving average is $4.70 and its two-hundred day simple moving average is $6.86.

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.