Meta Materials Inc (NASDAQ:MMAT) finished Friday with an addition of $0.01 to close at $0.21, an upside of 5.95 percent. An average of 2,979,140 shares of common stock have been traded in the last five days. There was a gain of $0.0077 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 2,920,590 shares traded, while the 50-day average volume stands at 4,323,988.
MMAT stock has decreased by -10.14% in the last month. The company shares reached their 1-month lowest point of $0.1910 on 09/28/23. 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 -82.19% or -$0.9781 in price. In spite of this, the price is down -90.94% 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 201 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 2.14. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 13.78, the price-to-book (PB) ratio at 1.00.
Financial Health
The quick ratio of Meta Materials Inc for the three months ended June 29 was 1.15, and the current ratio was 1.18, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.08 and a total debt to equity ratio of 0.11 for the quarter ending June 29. 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 29 September was 49.50%, suggesting the stock is Neutral, with historical volatility in this time frame at 54.83%.
As of today, MMAT’s price is $0.2098 +3.77% or $0.0077 from its 5-day moving average. MMAT is currently trading -7.95% lower than its 20-day SMA and -6.90% lower than its 100-day SMA. However, the stock’s current price level is -0.75% below the SMA50 and -85.68% below the SMA200.
The stochastic %K and %D were 33.54% and 35.05%, respectively, and the average true range (ATR) was 0.0152. With the 14-day stochastic at 50.73% and the average true range at 0.0153, the RSI (14) stands at 47.96%. The stock has reached -0.0002 on the 9-day MACD Oscillator while the 14-day reading was at -0.0035.
