Momentus Inc (NASDAQ:MNTS) shares are rocketing higher Monday morning after the company announced multiple contract wins.
What Happened: Momentus was awarded a contract by NASA to demonstrate a power processing unit for Hall Thrusters based upon CisLunar Industries’ modular configurable electric power converter technologies. The unit is designed to help advance in-space assembly operations.
Under the contract, managed by NASA’s Flight Opportunities program, Momentus will host one of CisLunar Industries’ payloads to conduct in-orbit testing of power processing unit technology. The company will carry the payload alongside other payloads on its Vigoride 7 orbital service vehicle scheduled for launch no earlier than February 2026.
Separately, Momentus announced that it signed a $1.86 million contract with the U.S. Air Force’s innovation arm SpaceWERX. The company will work to complete an in-space flight demonstration of a multi-spectral sensor suite scheduled for early 2026.
Momentus said the demonstration involves an internally developed system equipped with optical, infrared and lidar (light detection and ranging) sensors.
“This contract marks a major milestone in advancing cost-effective, autonomous in-space operations,” said John Rood, CEO of Momentus.
“We’re honored to support the U.S. Space Force and Department of the Air Force in developing the advanced capabilities needed to support their plans for dynamic space operations such as orbital servicing and refueling of satellites, assembly of structures in space, and debris mitigation.”
Momentus shares are likely to be highly volatile given that it had a market cap of just $8.85 million as of Friday’s close. Momentus has a total float of about 6.27 million shares and has short interest of around 7%, according to Benzinga Pro.
MNTS Price Action: Momentus shares are down approximately 82% year-to-date. The space stock was up 24.8% at $1.75 at the time of publication Monday, according to Benzinga Pro.
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