Momentus Inc [NASDAQ: MNTS] closed the trading session at $0.59. The company report on March 7, 2024 at 5:05 PM that Momentus Announces Closing of $4.0 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules.
Momentus Inc. (NASDAQ: MNTS) (“Momentus” or the “Company”), a U.S. commercial space company that offers satellite buses, transportation, and other in-space infrastructure services, today announced that it has closed its previously announced registered direct offering priced at-the-market under Nasdaq rules with a single institutional investor for the purchase and sale of 4,624,280 shares of common stock (or common stock equivalents in lieu thereof) at a purchase price of $0.865 per share, resulting in total gross proceeds of approximately $4.0 million before deducting placement agent commissions and other estimated offering expenses. The Company further agreed to issue to the investor warrants to purchase up to an aggregate of 4,624,280 shares of common stock. The warrants have an exercise price of $0.74 per share, are exercisable immediately and expire after five years.
A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.
The stocks have a year to date performance of -65.69 percent and weekly performance of 6.53 percent. The stock has been moved at -80.15 percent over the last six months. The stock has performed -28.00 percent around the most recent 30 days and changed -67.39 percent over the most recent 3-months.
If compared to the average trading volume of 1.96M shares, MNTS reached to a volume of 6574091 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Momentus Inc [MNTS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MNTS shares is $4.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MNTS stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Evercore ISI have made an estimate for Momentus Inc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on July 05, 2022. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on January 10, 2022, representing the official price target for Momentus Inc stock.
The Average True Range (ATR) for Momentus Inc is set at 0.12, with the Price to Sales ratio for MNTS stock in the period of the last 12 months amounting to 3.60. The Price to Book ratio for the last quarter was 0.37, with the Price to Cash per share for the same quarter was set at 0.76.
MNTS stock trade performance evaluation
Momentus Inc [MNTS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.53. With this latest performance, MNTS shares dropped by -28.00% in over the last four-week period, additionally sinking by -80.15% over the last 6 months – not to mention a drop of -97.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MNTS stock in for the last two-week period is set at 42.55, with the RSI for the last a single of trading hit 47.10, and the three-weeks RSI is set at 39.92 for Momentus Inc [MNTS]. The present Moving Average for the last 50 days of trading for this stock 0.7973, while it was recorded at 0.5132 for the last single week of trading, and 6.3634 for the last 200 days.
Momentus Inc [MNTS]: An insightful look at the core fundamentals
Momentus Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.92 and a Current Ratio set at 0.92.
Earnings per share (EPS) analysis for Momentus Inc [MNTS] stock
With the latest financial reports released by the company, Momentus Inc posted -12.5/share EPS, while the average EPS was predicted by analysts to be reported at -14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MNTS.
Momentus Inc [MNTS]: Institutional Ownership
The top three institutional holders of MNTS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MNTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MNTS stock with ownership which is approximately 5.8325%.
