Short Interest in Momentus Inc. (NASDAQ:MNTS) Increases By 48.1%

Momentus Inc. (NASDAQ:MNTS) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 383,000 shares, a growth of 48.1% from the February 28th total of 258,600 shares. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 12.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

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

Momentus Stock Performance

Shares of MNTS stock traded up $0.05 during trading on Monday, reaching $2.00. The company’s stock had a trading volume of 98,030 shares, compared to its average volume of 661,737. The business has a fifty day moving average price of $3.65 and a 200-day moving average price of $6.29. Momentus has a one year low of $1.56 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.