Space Company Receives DARPA Contract: What's Going On With Momentus Stock?

Momentus Inc. (NASDAQ:MNTS) shares are trading higher Thursday after the company announced it has secured a contract from the Defense Advanced Research Projects Agency (DARPA). 

The Details:

Momentus said the DARPA contract is aimed to support the design and in-space demonstration of technologies that will enable the construction of large-scale structures in space. The program, known as DARPA Novel Orbital and Moon Manufacturing, Materials, and Mass-efficient Design (NOM4D0, focuses on developing the foundations for building robust and precise structures in space. 

“We’re delighted by the opportunity to partner with DARPA to work at the forefront of the future in-space infrastructure economy,” said Momentus CEO John Rood. “Vigoride’s flexibility, payload capacity, and power make it well-suited to support the demonstration of NOM4D technologies that overcome current volume, load, and vibration constraints currently limiting the type and scale of in- space structures.”

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Momentus shares are moving on heavy trading volume following the announcement Thursday. According to data from Benzinga Pro, more than 40 million shares have already been traded in the session, compared to the stock’s 100-day average of 1.082 million shares.

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: According to Benzinga Pro, Momentus shares are up 51% at 79 cents at the time of publication Thursday.

Image: Courtesy of Momentus, Inc.