Momentus Inc. (MNTS) is a commercial-level space company offering in-space transportation, hosted payloads, and in-orbit facilities. The company’s stock price declined minutely by 1.99% to remain at $2.95 at the finish of Wednesday’s regular trading. Its price soared up as of the writing in Thursday’s premarket session by 40.0% and now stands at $4.13.
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MNTS: Recent Developments
MNTS reported on April 7, regarding signing multiple introduction contracts with Space Exploration Technologies Corp. or commonly known as SpaceX. The contracts reserved slots for the company on forthcoming four SpaceX Transporter assignments. It also includes the Transporter-6 mission beset for October 2022, Transporter-7 for January 2023, Transporter-8 for April 2023, and Transporter-9 for October 2023. The company intends to fly its initial Vigoride demo flight on the SpaceX Transporter-5 mission.
MNTS: Industry Outlook
A 12% gain was observed in the Aerospace & Defense S&P 500 index for the last year as the Ukrainian invasion by Russia gave a shot in the arm to the index. As geopolitical turmoil lingers, traders can continue their ride in this industry for an opportunity. It was already expected that the US was up the ante on its defense spending. Both the sectors should continue to exhibit strong growth through the remaining 2022 as a result of the recent geopolitical catalysts.
MNTS: Company Outlook
MNTS stock is continuously on a bouncy ride for the past year due to multiple factors some being mentioned above. The company’s market cap stands at $239.5 million and a 52-week stock range is recorded to be $1.84-$14.6. The average volume of its shares is recorded to be 0.75 million.
MNTS stock price dropped in the last half-year by 72%. In today’s premarket session, its stock jumped instantaneously following the news of its deal with SpaceX was out. It is a good sign for the company as investors are putting their trust in the company’s strategies.