Meta Materials Inc. (NASDAQ:MMAT) finished Friday with a subtraction of $0.0 to close at $0.23, an upside of 0.35 percent. An average of 2,550,960 shares of common stock have been traded in the last five days. There was a gain of $0.0066 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 5,160,270 shares traded, while the 50-day average volume stands at 6,408,254.
MMAT stock has increased by 10.21% in the last month. The company shares reached their 1-month lowest point of $0.2030 on 07/27/23. With the stock rallying to its 52-week high on 01/09/23, shares of the company touched a low of $0.17 and a high of $2.34 in 52 weeks. It has reached a new high 2 times so far this year and lost -80.77% or -$0.9612 in price. In spite of this, the price is down -90.22% from the 52-week high.
Insider Transactions
MMAT stock investors should be aware that Meta Materials Inc. (MMAT) stock had its last reported insider trading activity 166 days ago on Aug 16. In this transaction, the insider spent $11,626. Chief Technology Officer, Waldern Jonathan, disposed of 17,372 shares at a price of $0.63 on Mar 13. The insider now owns more than $10,944 worth of shares. Prior to that, 10% Owner Welch Thomas Gordon went on to Sale 75,000 shares at $2.23 each on Dec 07. An amount of $167,250 was transacted.
Valuation Metrics
Meta Materials Inc. (MMAT) stock’s beta is 2.12. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 12.30.
Financial Health
The quick ratio of Meta Materials Inc. for the three months ended June 29 was 1.20, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.03 and a total debt to equity ratio of 0.04 for the quarter ending June 29. Meta Materials Inc.’s EBITDA margin for the year ending June 29 is -709.63%. Its gross profit as reported stood at -$83.27 million compared to revenue of $10.2 million.
Earnings Surprise
For the three-month period that ended June 29, Meta Materials Inc. had $3.18 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$293.65 million in the quarter, while revenues of -$18.67 million were grew 92.86%. The analyst consensus anticipated Meta Materials Inc.’s latest quarter earnings to come in at -$0.02 per share, but it turned out to be -$0.02, a 0.00% surprise. For the quarter, EBITDA amounted to -$291.31 million. Shareholders own equity worth $477.26 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Meta Materials Inc. (MMAT) price momentum. RSI 9-day as of the close on 25 August was 50.64%, suggesting the stock is Neutral, with historical volatility in this time frame at 57.27%.
As of today, MMAT’s price is $0.2231 +2.97% or $0.0066 from its 5-day moving average. MMAT is currently trading +1.69% higher than its 20-day SMA and -53.47% lower than its 100-day SMA. However, the stock’s current price level is +0.57% above the SMA50 and -84.33% below the SMA200.
The stochastic %K and %D were 28.14% and 20.98%, respectively, and the average true range (ATR) was 0.0181. With the 14-day stochastic at 31.86% and the average true range at 0.0191, the RSI (14) stands at 50.89%. The stock has reached 0.0029 on the 9-day MACD Oscillator while the 14-day reading was at -0.0053.
Analyst Ratings
The consensus rating for Meta Materials Inc. (MMAT) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MMAT, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 1 others rate it as a “buy”.
What is MMAT’s price target for the next 12 months?
Analysts predict a range of price targets between $1.20 and $1.50, with a median target of $1.35. Taking a look at these predictions, the average price target given by analysts for Meta Materials Inc. (MMAT) stock is $1.35.
