Momentus shares surged nearly 20% in overnight trading ahead of Tuesday, extending a sharp run for mnts stock after a week of deal talk, insider buying and fresh attention on the space sector. The stock had already jumped more than 21% last Thursday after SpaceX disclosed it had confidentially submitted its IPO paperwork to securities regulators.

The latest move gives the space infrastructure company another lift after a 35.4% gain for the week. Momentus, which focuses on orbital transportation, has become a favorite among traders looking for leveraged exposure to space names with a low-float micro-cap profile that can magnify swings.

The move is also being fueled by the company’s own update on the business. On May 5, CEO John Rood said in a shareholder letter that Momentus was targeting $10 million in revenue this year, a ninefold increase from $1.1 million in 2025. He said the growth would come from milestone-based contracts with NASA and the U.S. Department of Defense, and the company said it had raised $5 million in a private placement and become debt-free.

Rood, CTO Rob Schwarz, CFO Lon Ensler, legal chief Jon Layman and board member Brian Kabot all bought shares last week, according to securities filings. That buying came as the company tried to show it has more than trading momentum behind it. Its main product, the Vigoride Orbital Service Vehicle, is already in use, and the company says its current mission activity includes payloads for NASA and the U.S. Air Force.

Vigoride 7 launched on SpaceX’s Transporter-16 mission in March and is now operating on orbit. Vigoride 8, planned for 2027, has completed its Preliminary Design Review and is already fully booked with NASA-backed payloads. Momentus is also developing in-space servicing and orbital assembly technologies under NASA- and DARPA-linked programs.

Rood said in the shareholder letter that Momentus enters the remainder of 2026 with a fully operational spacecraft on-orbit, a sold-out next mission, a strengthened balance sheet, active contracts with the nation’s top defense agencies, and a facility built to scale. He added that the company is not waiting for opportunity to arrive but is executing mission by mission, contract by contract.

Early Tuesday, sentiment on Stocktwits for MNTS was extremely bullish, adding to the buying pressure already building around the name. The question now is whether Momentus can turn the market’s enthusiasm into sustained revenue growth, or whether the stock’s latest surge is another brief spike in a volatile corner of the market.