Momentus's stock climbs, as space-services company is on pace to snap five-day losing streak

By James Rogers

Shares of Momentus, which provides satellite transportation and servicing, jumped in premarket trades Monday

Shares of Momentus Inc., which provides satellite transportation and servicing, were up 6.1% in premarket trades Monday.

At one point the stock was up 19.9% premarket on no apparent news, putting it on pace for its biggest gain since May 30, 2024, when it jumped 66.4%. Nonetheless, Momentus (MNTS) is on pace to snap a five-day losing streak. The company's shares ended Friday's session down 2.8%.

Related: These space stocks deserve attention, analysts say

The May 30 jump in Momentus's stock was driven by the announcement of a contract with the Defense Advanced Research Projects Agency (DARPA). The contract supports the design and in-space demonstration of "technologies that will enable the construction of large-scale structures in space," according to Momentus.

Other space stocks have enjoyed recent gains. Shares of space-based broadband company AST SpaceMobile Inc. (ASTS) ended Friday's session up 9.1% while launch provider Rocket Lab USA Inc.'s stock (RKLB) was up 5.6%. AST SpaceMobile shares were up 1.5% in premarket trades Monday, while Rocket Lab shares were down 0.2%.

Related: Virgin Galactic lines up customer for its new Delta spacecraft

Shares of space-tourism company Virgin Galactic Holdings Inc. (SPCE) ended Friday's session up 4.7%. The stock was up 1.1% Monday.

Space-exploration company Intuitive Machines Inc.'s (LUNR) stock was down 1.6% Friday, but was up 0.8% Monday.

Related: Intuitive Machines' stock pares gains as next moon mission approaches

Intuitive Machines made history earlier this year when its Odysseus lander became the first commercial lander to successfully land on the moon's surface. The company's follow-up, IM-2, is scheduled for late 2024, although Intuitive Machines has not yet announced a date for the launch. In an investor update in May, the company said that it is making "rapid progress" on IM-2.

-James Rogers

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07-08-24 0807ET

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