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

Momentus Inc. (NASDAQ:MNTS) was the target of 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 short-interest ratio is currently 0.2 days. Approximately 8.2% of the company’s stock are sold short.

Institutional Trading of 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% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. 9.24% of the stock is owned by institutional investors.

Momentus Trading Up 4.2 %

Shares of Momentus 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 50-day moving average is $4.70 and its two-hundred day moving average is $6.95. Momentus has a twelve month low of $1.56 and a twelve month 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.