Meta Materials Inc (NASDAQ:MMAT) saw a downside of -1.29% to $0.22 after subtracting $0.0 on Wednesday. The 5-day average trading volume is 2,141,617 shares of the company’s common stock. It has gained $0.2238 in the past week and touched a new high 4 times within the past 5 days. An average of 2,865,899 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,575,792.
MMAT’s 1-month performance is -5.95% or -$0.0087 on its low of $0.2001 reached on 09/20/23. The company’s shares have touched a 52-week low of $0.17 and high of $2.34, with the stock’s rally to the 52-week high happening on 01/09/23. YTD, MMAT has lost -81.93% or -$0.9699 and has reached a new high 2 times. However, the current price is down -90.81% from the 52-week high price.
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Insider Transactions
MMAT stock investors last saw insider trading activity on Aug 16. RICE KENNETH L JR most recently sold 18,454 shares at $0.63 per share on Mar 13. This transaction cost the insider $11,626. Chief Technology Officer, Waldern Jonathan, sold 17,372 shares at a price of $0.63 on Mar 13. Then, on Dec 07, 10% Owner Welch Thomas Gordon sold 75,000 shares at a price of $2.23 per share. This transaction amounted to $167,250.
Valuation Metrics
MMAT stock has a beta of 2.11. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 13.98 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 1.15, with the current ratio over the same period at 1.18. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.08, while the total debt to equity was 0.11. In terms of profitability, the gross margin trailing 12 months is -134.79%. The firm’s gross profit as reported stood at -$83.27 million against revenue of $10.2 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 92.86% to -$293.65 million, while revenue of -$18.67 million was 93.64% off the previous quarter. Analysts expected MMAT to announce -$0.02 per share in earnings in its latest quarter, but it posted -$0.02, representing a 0.00% surprise. EBITDA for the quarter stood at more than -$291.31 million. MMAT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 28.61 million, with total debt at $11.08 million. Shareholders hold equity totaling $477.26 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 26 September was 55.79% to suggest the stock is trending Neutral, with historical volatility in this time period at 46.54%.
The stock’s 5-day moving average is $0.2117, reflecting a +8.80% or $0.0178 change from its current price. MMAT is currently trading -1.17% above its 20-day SMA, +7.58% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +11.84% and SMA200 by-87.97%.
Stochastic %K and %D was 48.04% and 31.72% and the average true range (ATR) pointed at 0.0129. The RSI (14) points at 51.55%, while the 14-day stochastic is at 62.31% with the period’s ATR at 0.0139. The stock’s 9-day MACD Oscillator is pointing at 0.0065 and 0.0034 on the 14-day charts.
