Buying Meta Materials Inc. (MMAT) Stock Is A Smart Move Today?

Meta Materials Inc. (NASDAQ:MMAT) finished Wednesday with an addition of $0.1 to close at $5.31, an upside of 1.92 percent. An average of 6,388,120 shares of common stock have been traded in the last five days. There was a gain of $0.32 in the past week. The last 20 days have seen an average of 13,837,595 shares traded, while the 50-day average volume stands at 18,209,945.

MMAT stock has increased by 3.31% in the last month. The company shares reached their 1-month lowest point of $4.76 on 09/20/21. With the stock rallying to its 52-week high on 06/21/21, shares of the company touched a low of $0.50 and a high of $21.76 in 52 weeks. In spite of this, the price is down -75.60% from the 52-week high.

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Insider Transactions

97 days have passed since Meta Materials Inc. (MMAT) last reported insider trading activity. GRAVES MICHAEL JAMES, who is Former director, most recently acquired $300,000 shares at $5.08 per share on Jul 09.

Valuation Metrics

Meta Materials Inc. (MMAT) has a trailing price-to-earnings (P/E) ratio of 23.30 for the broader industry and 37.24 for the sector. The stock’s beta is 1.58. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1142.75, the price-to-book (PB) ratio at 2.85.

The quick ratio of Meta Materials Inc. for the recent quarter was 2.60, and the current ratio was 2.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.01 for the recent quarter. Meta Materials Inc.’s EBITDA margin is -1821.19%. Its gross profit as reported stood at -$9.38 million compared to revenue of $0.19 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Meta Materials Inc.’s return on assets was -37.70%. For the broader industry, ROE averaged 3.62 over the past year.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $0.62 million in the quarter, while revenues of $0.0 were grew 91.94%. For the quarter, EBITDA amounted to -$3.79 million. Shareholders own equity worth $279.78 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Meta Materials Inc. (MMAT) price momentum. RSI 9-day as of the close on 13 October was 50.78%, suggesting the stock is Neutral, with historical volatility in this time frame at 69.04%.

As of today, MMAT’s price is $5.30 +6.41% or $0.32 from its 5-day moving average. MMAT is currently trading +7.27% higher than its 20-day SMA and +17.48% higher than its 100-day SMA. However, the stock’s current price level is +62.39% above the SMA50 and +268.80% above the SMA200.

The stochastic %K and %D were 23.39% and 25.75%, respectively, and the average true range (ATR) was 0.44. With the 14-day stochastic at 22.98% and the average true range at 0.47, the RSI (14) stands at 52.54%. The stock has reached 0.02 on the 9-day MACD Oscillator while the 14-day reading was at -0.16.

Analyst Ratings

The consensus rating for Meta Materials Inc. (MMAT) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MMAT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.

What is MMAT’s price target for the next 12 months?

Analysts predict a range of price targets between $4.57 and $4.57, with a median target of $4.57. Taking a look at these predictions, the average price target given by analysts for Meta Materials Inc. (MMAT) stock is $4.57.


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