Momentus (NASDAQ:MNTS) Shares Up 2.4% – Here’s What Happened

Momentus Inc. (NASDAQ:MNTS) shares shot up 2.4% during trading on Friday . The company traded as high as $0.56 and last traded at $0.53. 639,683 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 5,722,222 shares. The stock had previously closed at $0.52.

Momentus Price Performance

The firm has a 50 day moving average of $0.57 and a two-hundred day moving average of $0.58.

Momentus (NASDAQ:MNTS) last issued its earnings results on Tuesday, October 15th. The company reported ($0.66) earnings per share (EPS) for the quarter. Momentus had a negative return on equity of 1,945.42% and a negative net margin of 1,303.93%. The firm had revenue of $0.51 million during the quarter.

Hedge Funds Weigh In On Momentus

An institutional investor recently raised its position 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 Form 13F filing with the Securities and Exchange Commission. The firm owned 78,955 shares of the company’s stock after acquiring an additional 46,392 shares during the period. Virtu Financial LLC owned 0.66% of Momentus worth $34,000 as of its most recent SEC filing. 9.24% of the stock is owned by hedge funds and other 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.