As of Friday close, Meta Materials Inc.’s (NASDAQ: MMAT) stock was down -$0.01, moving down -2.79 percent to $0.24. The average number of shares traded per day over the past five days has been 9,278,800 shares. 1 time new highs have been achieved over the past 5 days, with a $0.0150 gain in that time frame. In the last twenty days, the average volume was 7,097,505, while in the previous 50 days, it was 7,501,880.
Since last month, MMAT stock rose 25.00%. Shares of the company fell to $0.1850 on 07/14/23, the lowest level in the past month. A 52-week high of $2.34 was reached on 01/09/23 after having rallied from a 52-week low of $0.17. Since the beginning of this year, MMAT’s stock price has dropped by -79.83% or -$0.9500 and marked a new high 2 times. However, the stock has declined by -89.74% since its 52-week high.
MMAT stock investors should be aware that Meta Materials Inc. (MMAT) stock had its last reported insider trading activity 145 days ago on Mar 13. RICE KENNETH L JR disposed of 18,454 shares for $0.63 on Mar 13. It resulted in a $11,626 divestment by the insider. Waldern Jonathan sold 17,372 shares at an average price of $0.63 on Mar 13. The insider now owns 14,274 shares following the transaction. On Dec 07, 10% Owner Welch Thomas Gordon sold 75,000 shares at $2.23 apiece. The transaction was valued at $167,250.
Valuation Metrics
The stock’s beta is 2.12. Besides these, the trailing price-to-sales (P/S) ratio of 12.03, the price-to-book (PB) ratio of 0.24.
Financial Health
In the three months ended March 30, Meta Materials Inc.’s quick ratio stood at 0.80, while its current ratio was 0.90, showing that the company is not 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 65.30% percent. Based on annual data, MMAT earned -$83.27 million in gross profit and brought in $10.2 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 -19.20%. Return on equity (ROE) for the past 12 months was -20.40%.
In Meta Materials Inc.’s quarter-end financial report for March 30, it reported total debt of $3.13 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 fell -110.64% to $1.45 million during the quarter, while net income inched up to $1.41 million. While analysts expected Meta Materials Inc. to report -$0.04 quarterly earnings, the actual figure was -$0.05 per share, beating the consensus estimate by -25.00%. During the quarter, the company generated -$15.31 million in EBITDA. The liabilities of Meta Materials Inc. were 29.4 million at the end of its most recent quarter ended March 30, and its total debt was $8.2 million. The value of shareholders’ equity is $467.21 million.
Technical Picture
This quick technical analysis looks at Meta Materials Inc.’s (MMAT) price momentum. With a historical volatility rate of 86.19%, the RSI 9-day stood at 59.41% on 04 August.
With respect to its five-day moving average, the current Meta Materials Inc. price is up by +6.67% percent or $0.0150. At present, MMAT shares trade +28.21% above its 20-day simple moving average and -51.98% percent below its 100-day simple moving average. However, the stock is currently trading approximately -7.37% below its SMA50 and -74.66% below its SMA200.
Stochastic coefficient K was 63.51% and Stochastic coefficient D was 69.18%, while ATR was 0.0224. Given the Stochastic reading of 58.78% for the 14-day period, the RSI (14) reading has been calculated as 58.13%.
Analyst Ratings
Meta Materials Inc. (MMAT) has been rated Overweight 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 1 recommending it as overweight.
With a median target price of $1.35, the current consensus forecast for the stock is $1.20 – $1.50. Based on these forecasts, analysts predict Meta Materials Inc. (MMAT) will achieve an average price target of $1.35.
