Streetbeat News

MNTS

Momentus Inc.

Industry

Aerospace & Defense

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.

Open

0.62

Mkt cap

16M

Volume

1.8M

High

0.69

P/E Ratio

-0.26

52-wk high

3.17

Low

0.59

Div yield

N/A

52-wk low

0.35

Momentus Inc. has announced a registered direct offering of 3,687,000 shares of common stock priced at $1.085 per share, along with a warrant. The total value of the offering is approximately $4 million. This capital raise could dilute current shareholders but also provides the company with additional funds for operations, development, and potential debt reduction.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:02 pm

During Monday's intraday session, several industrial stocks experienced significant movements. Applied UV (AUVI) saw a 67.9% increase, while Momentus (MNTS) dropped by 24%. Other notable gainers include Compx Intl (CIX), Nuburu (BURU), Nuvve Holding (NVVE), Captivision (CAPT), and Marti Techs (MRT). Conversely, Swvl Hldgs (SWVL), Mega Matrix (MPU), Bitcoin Depot (BTM), ZKH Group (ZKH), and SOS (SOS) were among the losers.

Portfolio Pulse from Benzinga Insights

January 15, 2024 | 5:30 pm

In Monday's pre-market session, several industrial stocks experienced significant movements. Nuvve Holding (NVVE) saw a 30.9% increase, while Applied UV (AUVI) rose by 25.43%. Aeries Technology (AERT) and Roma Green Finance (ROMA) also gained, with increases of 19.92% and 18.56% respectively. TPI Composites (TPIC) and Applied UV's preferred shares (AUVIP) both saw gains. Conversely, Momentus (MNTS), VCI Global (VCIG), iSun (ISUN), KULR Tech Gr (KULR), Bitcoin Depot (BTM), and Sentage Hldgs (SNTG) experienced declines, with MNTS dropping by 39.2%.

Portfolio Pulse from Benzinga Insights

January 15, 2024 | 1:05 pm

U.S. stocks showed mixed performance with the S&P 500 and NASDAQ Composite rising, while the Dow fell. Energy shares gained 1% with crude oil prices increasing by 1.2%. Delta Air Lines (DAL) shares dropped over 8% after Q4 results, despite beating revenue and EPS estimates, due to conservative EPS guidance for the current year. Applied UV (AUVI), Flexsteel Industries (FLXS), and Wipro Limited (WIT) saw their shares surge after positive announcements. Genius Group (GNS) shares plummeted 47% following an $8.25 million public offering announcement. VCI Global (VCIG) and Momentus (MNTS) also saw significant declines after announcing their respective public offerings and funding issues.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 7:27 pm

Wipro Limited (NYSE:WIT) shares surged over 16% after reporting Q3 results, guidance, and an interim dividend. Other stocks showed significant movement in Friday's mid-day session, with various gainers such as Charge Enterprises, Inc. (NASDAQ:CRGE) and losers like Genius Group Limited (NYSE:GNS). Notable movements included Flexsteel Industries, Inc. (NASDAQ:FLXS) rising after strong Q2 preliminary results and Delta Air Lines, Inc. (NYSE:DAL) falling post Q4 financial results and 2024 guidance.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 6:28 pm

Momentus Inc. (NASDAQ:MNTS) shares dropped after the company was not selected for the Tranche 2 Tracking Layer funding by the Space Development Agency. The company expressed substantial doubt about its ability to continue as a going concern, following a 20% reduction in workforce and a significant decrease in cash from $62 million to $10 million year-over-year. Despite discussions with potential strategic partners, no definitive agreements have been reached. Momentus is seeking capital to bridge to profitable commercial production, without which operations may be further reduced or stopped. MNTS shares fell 18.43% to $1.01.

Portfolio Pulse from Nabaparna Bhattacharya

January 12, 2024 | 5:53 pm

The Dow Jones index fell over 200 points, while JPMorgan Chase & Co (NYSE:JPM) reported better-than-expected fourth-quarter earnings with a net revenue of $39.943 billion and EPS of $3.97, surpassing consensus estimates. Energy shares rose by 1%, but consumer discretionary shares dropped by 0.8%. Applied UV, Inc. (NASDAQ:AUVI), Flexsteel Industries, Inc. (NASDAQ:FLXS), and Inpixon (NASDAQ:INPX) saw their shares rise after positive announcements. Conversely, Genius Group Limited (NYSE:GNS), VCI Global Limited (NASDAQ:VCIG), and Momentus Inc. (NASDAQ:MNTS) experienced significant share price drops due to public offering pricing and concerns about ongoing viability.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 5:48 pm

During Friday's intraday session, several industrial stocks experienced significant movements. Applied UV (AUVI) saw a 33.8% increase, while Nuvve Holding (NVVE) rose by 23.78%. Jet AI (JTAI) and Compx Intl (CIX) also saw gains of 22.32% and 19.78%, respectively. On the losing side, Swvl Holdings (SWVL) dropped by 31.1%, VCI Global (VCIG) by 30.77%, and Mega Matrix (MPU) by 23.34%. Other notable decliners included Momentus (MNTS), Bitcoin Depot (BTM), and Recruiter.Com Group (RCRT).

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 5:31 pm

Momentus Inc.'s stock (MNTS) is trading lower following the announcement that the Space Development Agency (SDA) did not select the company for Tranche 2 Tracking Layer funding. Additionally, there are concerns about the company's ability to continue as a going concern.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:07 pm

In Friday's pre-market session, several industrial stocks showed significant movement. Aeries Technology (AERT) led the gainers with a 24.3% increase, while VCI Global (VCIG) experienced the largest drop among the losers, declining by 34.6%. Delta Air Lines (DAL) also saw a decrease of 5.07% as their Q4 earnings were released.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 1:05 pm

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