The stock of Meta Materials Inc. (NASDAQ:MMAT) decreased by -$0.01 on Tuesday to finish at $0.22, down -2.58 percent. The last five days have seen an average of 3,482,100 shares of common stock traded. 2 times new highs were reached in the current year, with a fall of -$0.9673. The average number of shares traded over the last 20 days was 4,086,410, while the average volume over the last 50 days totaled 6,158,782.
MMAT stock dropped -10.38% since last month. On 08/18/23, the company’s shares reached a one-month low of $0.2100. 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 -81.29% or -$0.9673 this year, reaching a new high 2 times. Still, the stock price is down -90.48% 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 14 days ago on Aug 16. On Aug 16, CEO and President Palikaras Georgios acquired 100,000 shares at $0.23 each. This transaction resulted in the insider spending $22,660. On Mar 13, RICE KENNETH L JR sold 18,454 shares at a price of US$0.63. After the transaction, the insider now owns 21,103 shares. Chief Technology Officer Waldern Jonathan had earlier sold 17,372 shares on Mar 13 for $0.63 a share. The transaction was completed for $10,944.
Financial Health
For the three months ended June 29, Meta Materials Inc.’s quick ratio was 1.20, while its current ratio was 1.20, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.03, and the total debt to equity ratio is 0.04. 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. There was a -19.20% return on investment (ROI) in the past year.
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 29 August, the RSI 9-day stood at 45.27%, suggesting the stock is Neutral, with a 51.36% historical volatility rate.
The stochastic %K and %D were 32.51% and 30.82% respectively, while the average true range (ATR) was 0.0174. Based on the 14-day stochastic reading of 32.56%, the RSI (14) reading is 47.76%. On the 9-day MACD Oscillator, the stock is at 0.0040.
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.
