Momentus (MNTS) Stock: Why The Price Surged Today

Apr 7th, 2022 10:30 EST
  • The stock price of Momentus Inc. (NASDAQ: MNTS) increased by over 45% during intraday trading today. This is why.

The stock price of Momentus Inc. (NASDAQ: MNTS) – a U.S. commercial space company that plans to offer transportation and other in-space infrastructure services – increased by over 45% during intraday trading today. Investors are responding positively to Momentus announcing that it has signed multiple launch agreements with Space Exploration Technologies (SpaceX), an aerospace manufacturing company led by Elon Musk.

These agreements, which were first announced during the company’s March earnings call, reserve slots for Momentus on four upcoming SpaceX Transporter missions, including the Transporter-6 mission targeted for October 2022, Transporter-7 targeted for January 2023, Transporter-8 targeted for April 2023, and Transporter-9 targeted for October 2023. And these slot reservations are in addition to a Launch Services Agreement signed in 2021 for the SpaceX Transporter-5 mission targeted for launch in June 2022.

Momentus is planning to fly its inaugural Vigoride demonstration flight on the upcoming SpaceX Transporter-5 mission, pending receipt of appropriate government licenses and approvals.

In preparation for this flight, the Vigoride spacecraft recently completed Thermal Vacuum Testing (TVAC), which closely simulates the space environment. And the Momentus team is now conducting follow-on testing of specific vehicle components to address the few anomalies found during TVAC testing. 

Vigoride is undergoing preparation for vibration testing to verify that all systems are ready for the launch environment. The vibration testing is the final phase of the ground test campaign before the vehicle is shipped to the launch service provider for flight.

KEY QUOTE:

“Our agreements with SpaceX establish a regular launch cadence for Momentus as we bring our initial services to market. We’ll use these flight opportunities to demonstrate the capabilities of our Vigoride orbital transfer vehicle, deliver customers to orbit, and continue the development of new technologies to expand our service offerings at lower costs.”

— Momentus CEO John Rood

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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