Meta Materials Inc. (MMAT) Shares: Cheap or Risky?

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Meta Materials Inc. (NASDAQ:MMAT) saw an upside of 2.86% to close Monday at $1.08 after adding $0.03 on the day. The 5-day average trading volume is 3,988,040 shares of the company’s common stock. It has gained $1.0800 in the past week and touched a new high 3 times within the past 5 days. An average of 4,007,880 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 11,656,107.

MMAT’s 1-month performance is -12.20% or -$0.0100 on its low of $0.9400 reached on 01/19/23. The company’s shares have touched a 52-week low of $0.63 and high of $2.34, with the stock’s rally to the 52-week high happening on 01/09/23. YTD, MMAT has lost -9.24% or -$0.1100 and has reached a new high 2 times. However, the current price is down -53.85% from the 52-week high price.

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Insider Transactions

MMAT stock investors last saw insider trading activity on Dec 07.Welch Thomas Gordon (10% Owner) most recently sold 75,000 shares at $2.23 per share on Dec 07. This transaction cost the insider $167,250.

Valuation Metrics

MMAT stock has a beta of 2.17. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 32.09 while the price-to-book (PB) in the most recent quarter is 1.01.

Meta Materials Inc.’s quick ratio for the period ended June 29 was 1.30, with the current ratio over the same period at 1.30. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.01, while the total debt to equity was 0.01. In terms of profitability, the gross margin trailing 12 months is 73.90%. The firm’s gross profit as reported stood at -$38.06 million against revenue of $4.08 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Meta Materials Inc.’s cash and short-term investments amounted to $1.18 million against total debt of $79.5 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 53.31% to -$24.48 million, while revenue of -$20.98 million was 14.3% off the previous quarter. Analysts expected MMAT to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.07, representing a -40.00% surprise. EBITDA for the quarter stood at more than -$20.29 million. MMAT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 93.83 million, with total debt at $79.5 million. Shareholders hold equity totaling $361.93 million.

Let’s look briefly at Meta Materials Inc. (MMAT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 46.72% to suggest the stock is trending Neutral, with historical volatility in this time period at 77.31%.

The stock’s 5-day moving average is $1.0317, reflecting a +4.85% or $0.0500 change from its current price. MMAT is currently trading -14.29% above its 20-day SMA, +38.46% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -30.77% and SMA200 by-32.92%.

Stochastic %K and %D was 29.69% and 22.33% and the average true range (ATR) pointed at 0.0972. The RSI (14) points at 44.41%, while the 14-day stochastic is at 48.28% with the period’s ATR at 0.1190. The stock’s 9-day MACD Oscillator is pointing at -0.0215 and -0.0559 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for MMAT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MMAT as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 1 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $2.00 and a high of $3.50, with their median price target at $2.75. Looking at these predictions, the average price target given by analysts is for Meta Materials Inc. (MMAT) stock is $2.75.

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