So Far This Year, Meta Materials Inc. (MMAT) Reached A New High 3 times

As of Friday close, Meta Materials Inc.’s (NASDAQ:MMAT) stock was down -$0.01, moving down -1.11 percent to $0.91. The average number of shares traded per day over the past five days has been 2,778,860 shares. 3 times new highs have been achieved over the past 5 days, with a $0.0100 gain in that time frame. In the last twenty days, the average volume was 3,773,400, while in the previous 50 days, it was 6,458,278.

Since last month, MMAT stock retreated -14.95%. Shares of the company fell to $0.8802 on 08/01/22, the lowest level in the past month. A 52-week high of $6.55 was reached on 01/03/22 after having rallying from a 52-week low of $0.88. Since the beginning of this year, MMAT’s stock price has dropped by -63.01% or -$1.5500, and marked a new high 1 time. However, the stock has declined by -86.11% since its 52-week high.

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Meta Materials Inc. (MMAT) last reported insider trading activity 43 days ago on Jun 24. Welch Thomas Gordon, the 10% Owner of the company, purchased of 35,000 shares for $1.28 on Jun 24. It resulted in a $44,800 investment by the insider. Welch Thomas Gordon added 35,000 shares at an average price of $1.30 on Jun 24. The insider now owns 1,948,242 shares following the transaction. On May 17, Director Christilaw Allison bought 15,000 shares at $1.67 apiece. The transaction was valued at $25,048.

Valuation Metrics

The stock’s beta is 1.57. Besides these, the trailing price-to-sales (P/S) ratio of 50.68, the price-to-book (PB) ratio of 0.81.

Financial Health

In the three months ended March 30, Meta Materials Inc.’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.01, and the total debt-to-equity ratio was 0.01. On the profitability front, the trailing twelve-month gross margin is 77.50% percent. Based on annual data, MMAT earned -$38.06 million in gross profit and brought in $4.08 million in revenue.

In Meta Materials Inc.’s quarter-end financial report for March 30, it reported total debt of $2.92 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MMAT’s revenue rose 100.0% to $2.88 million during the quarter, while net income inched up to $2.97 million. While analysts expected Meta Materials Inc. to report -$0.02 quarterly earnings, the actual figure was -$0.06 per share. During the quarter, the company generated -$15.74 million in EBITDA. The liabilities of Meta Materials Inc. were 92.54 million at the end of its most recent quarter ended March 30, and its total debt was $80.03 million. The value of shareholders’ equity is $296.62 million.

Technical Picture

This quick technical analysis looks at Meta Materials Inc.’s (MMAT) price momentum. With a historical volatility rate of 27.46%, the RSI 9-day stood at 37.66% on 05 August.

With respect to its five-day moving average, the current Meta Materials Inc. price is up by +1.11% percent or $0.0100. At present, MMAT shares trade -14.15% below its 20-day simple moving average and -35.46% percent below its 100-day simple moving average. However, the stock is currently trading approximately -50.27% below its SMA50 and -81.31% below its SMA200.

Stochastic coefficient K was 25.41% and Stochastic coefficient D was 19.79%, while ATR was 0.0514. Given the Stochastic reading of 22.96% for the 14-day period, the RSI (14) reading has been calculated as 36.51%.


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