Momentus Inc (NASDAQ:MNTS) shares are soaring Wednesday after the company was awarded a NASA contract to study flying foundational robotics technologies into space.
What To Know: NASA’s Flight Opportunities program awarded Momentus a contract to conduct a terrestrial study that explores options to fly advanced robotic systems in space on one of its upcoming orbital service vehicle flights.
Momentus said it completed initial work under the contract and expects to submit a proposal to NASA to fly a follow-on mission. Momentus is one of two companies being considered for the follow-on contract, which is expected to be awarded in September.
“This win demonstrates our commitment to advancing space infrastructure by supporting innovative technologies that can transform how we operate in space,” said John Rood, CEO of Momentus.
“We’re honored to be entrusted by NASA to help mature these cutting-edge robotics systems. Space robotics is rapidly becoming a strategic capability that we expect to leverage in the future to support customers in the commercial and national security sectors.”
Momentus is a micro-cap stock with a market cap of approximately $7.72 million as of Tuesday’s close. Momentus also has low institutional ownership of 5.71%, according to Benzinga Pro, suggesting the momentum in shares may be retail-driven.
How To Buy MNTS Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Momentus' case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
MNTS Price Action: Momentus shares were up 43.25% at $1.59 at the time of publication Wednesday, according to Benzinga Pro.
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