Momentus Inc. (NASDAQ:MNTS) Short Interest Down 40.7% in February

Momentus Inc. (NASDAQ:MNTS) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 258,600 shares, a drop of 40.7% from the February 13th total of 436,000 shares. Currently, 8.2% of the shares of the company are short sold. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Momentus

An institutional investor recently raised its position in Momentus stock. JPMorgan Chase & Co. raised its holdings in shares of Momentus Inc. (NASDAQ:MNTS) by 165,960.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,303 shares of the company’s stock after acquiring an additional 8,298 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.30% of Momentus worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 9.24% of the company’s stock.

Momentus Stock Performance

Shares of MNTS stock opened at $1.78 on Monday. Momentus has a 12-month low of $1.56 and a 12-month high of $28.56. The firm’s 50 day moving average is $4.70 and its 200 day 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.