As of Wednesday close, Meta Materials Inc.’s (NASDAQ:MMAT) stock was down -$0.19, moving down -9.36 percent to $1.84. The average number of shares traded per day over the past five days has been 24,379,178 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0700 gain in that time frame. In the last twenty days, the average volume was 15,550,979, while in the previous 50 days, it was 11,760,680.
Since last month, MMAT stock rose 89.61%. Shares of the company fell to $0.8400 on 10/24/22, the lowest level in the past month. A 52-week high of $4.27 was reached on 01/03/22 after having rallying from a 52-week low of $0.63. Since the beginning of this year, MMAT’s stock price has dropped by -25.20% or -$0.6200, and marked a new high 1 time. However, the stock has declined by -56.91% since its 52-week high.
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MMAT stock investors should be aware that Meta Materials Inc. (MMAT) stock had its last reported insider trading activity 106 days ago on Aug 11. Palikaras Georgios, the CEO and President of the company, purchased of 42,000 shares for $0.96 on Aug 11. It resulted in a $40,320 investment by the insider. Welch Thomas Gordon added 35,000 shares at an average price of $1.28 on Jun 24. The insider now owns 2,450,243 shares following the transaction. On Jun 24, 10% Owner Welch Thomas Gordon bought 35,000 shares at $1.30 apiece. The transaction was valued at $45,465.
The stock’s beta is 1.88. Besides these, the trailing price-to-sales (P/S) ratio of 64.91, the price-to-book (PB) ratio of 1.72.
In the three months ended September 29, 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 September 29 was 0.01, and the total debt-to-equity ratio was 0.01. On the profitability front, the trailing twelve-month gross margin is 73.90% percent. Based on annual data, MMAT earned -$38.06 million in gross profit and brought in $4.08 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -23.00%. Return on equity (ROE) for the past 12 months was -25.60%.
In Meta Materials Inc.’s quarter-end financial report for September 29, it reported total debt of $2.14 million against cash and short-term investments of $1.18 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MMAT’s revenue rose 76.83% to $3.32 million during the quarter, while net income inched up to $2.46 million. While analysts expected Meta Materials Inc. to report -$0.05 quarterly earnings, the actual figure was -$0.07 per share. During the quarter, the company generated -$20.29 million in EBITDA. The liabilities of Meta Materials Inc. were 93.83 million at the end of its most recent quarter ended September 29, and its total debt was $78.92 million. The value of shareholders’ equity is $361.93 million.
This quick technical analysis looks at Meta Materials Inc.’s (MMAT) price momentum. With a historical volatility rate of 205.87%, the RSI 9-day stood at 58.68% on 23 November.
With respect to its five-day moving average, the current Meta Materials Inc. price is up by +3.95% percent or $0.0700. At present, MMAT shares trade +80.39% above its 20-day simple moving average and +71.96% percent above its 100-day simple moving average. However, the stock is currently trading approximately +131.13% above its SMA50 and +12.20% above its SMA200.
Stochastic coefficient K was 75.04% and Stochastic coefficient D was 76.69%, while ATR was 0.2565. Given the Stochastic reading of 58.25% for the 14-day period, the RSI (14) reading has been calculated as 60.95%. As of today, the MACD Oscillator reading stands at 0.2189, while the 14-day reading stands at 0.3343.
Meta Materials Inc. (MMAT) has been rated Buy by analysts. According to 0 brokerage firms, MMAT is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Meta Materials Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $2.00, the current consensus forecast for the stock is $2.00 – $3.50. Based on these forecasts, analysts predict Meta Materials Inc. (MMAT) will achieve an average price target of $2.50.