The stock of Meta Materials Inc. (NASDAQ:MMAT) decreased by $0.0 on Tuesday to finish at $0.24, down -1.25 percent. The last five days have seen an average of 4,243,240 shares of common stock traded. 2 times new highs were reached in the current year, with a fall of -$0.9530. The average number of shares traded over the last 20 days was 6,995,850, while the average volume over the last 50 days totaled 7,251,224.
MMAT stock appreciated 24.41% since last month. On 07/17/23, the company’s shares reached a one-month low of $0.1860. The stock touched a high of $2.34 on 01/09/23, after rallying from a low of $0.17 in 52 weeks. The price of MMAT stock has declined by -80.08% or -$0.9530 this year, reaching a new high 2 times. Still, the stock price is down -89.87% from the 52-week high.
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Insider Transactions
MMAT stock investors should be aware that Meta Materials Inc. (MMAT) stock had its last reported insider trading activity 156 days ago on Mar 13. On Mar 13, RICE KENNETH L JR sold 18,454 shares at $0.63 each. This transaction resulted in the insider making $11,626. On Mar 13, Waldern Jonathan sold 17,372 shares at a price of US$0.63. After the transaction, the insider now owns 14,274 shares. 10% Owner Welch Thomas Gordon had earlier sold 75,000 shares on Dec 07 for $2.23 a share. The transaction was completed for $167,250.
Valuation Metrics
Beta for the stock is 2.13. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 12.87, the price-to-book (PB) ratio of 0.23.
Financial Health
For the three months ended June 29, Meta Materials Inc.’s quick ratio was 0.80, while its current ratio was 0.90, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.01, and the total debt to equity ratio is 0.01. As far as profitability goes, gross margin for the trailing twelve months is 65.30% percent. Based on annual data, it had gross profit of -$83.27 million and revenue of $10.2 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MMAT’s return on assets (ROA) during the last 12 months has been -17.60%. There was a -19.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -20.40%.
Earnings Surprise
According to Meta Materials Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.03 million, while revenues fell by -63.55% to $1.41 million. It was predicted that Meta Materials Inc.’s quarterly earnings would be -$0.02, but it ended up being -$0.02. EBITDA was -$291.31 million for the quarter. At the end of Meta Materials Inc.’s most recent quarter ended June 29, its liabilities totaled 28.61 million, while its total debt was $11.08 million. Equity owned by shareholders amounts to $477.26 million.
Technical Picture
Here’s a quick look at Meta Materials Inc.’s (MMAT) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 50.57%, suggesting the stock is Neutral, with a 64.19% historical volatility rate.
The stochastic %K and %D were 51.17% and 53.20% respectively, while the average true range (ATR) was 0.0240. Based on the 14-day stochastic reading of 47.22%, the RSI (14) reading is 52.95%. On the 9-day MACD Oscillator, the stock is at -0.0059.
Analyst Ratings
Analysts have assigned Meta Materials Inc. (MMAT) an Overweight rating. MMAT is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 1 other recommend it as a buy.
What is MMAT’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.20 and $1.50, with a median target price of $1.35. In analyzing these forecasts, the average price target given by analysts for Meta Materials Inc. (MMAT) is $1.35.
