In yesterday’s Wall Street session, Meta Materials Inc. (NASDAQ:MMAT) shares traded at $0.24, down -6.21% from the previous session.
As of this writing, 3 analysts cover Meta Materials Inc. (NASDAQ:MMAT). The consensus rating among analysts is ‘Buy’. MMAT stock price is now -23.97% away from the 50-day moving average and -71.86% away from the 200-day moving average. The market capitalization of the company currently stands at $107.43M.
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There are 0 analysts who have given it a hold rating, whereas 2 have given it a buy rating.
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In other news, RICE KENNETH L JR, insider sold 18,454 shares of the company’s stock on Mar 13. The stock was sold for $11,626 at an average price of $0.63. Upon completion of the transaction, the insider now directly owns 21,103 shares in the company, valued at $5064.72. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 13, Chief Technology Officer Waldern Jonathan sold 17,372 shares of the business’s stock. A total of $10,944 was realized by selling the stock at an average price of $0.63. This leaves the insider owning 14,274 shares of the company worth $3425.76. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MMAT stock. A new stake in Meta Materials Inc. shares was purchased by GMT CAPITAL CORP during the first quarter worth $132,000. ERGOTELES LLC invested $92,000 in shares of MMAT during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Meta Materials Inc. valued at approximately $73,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in MMAT for approximately $59,000. POINT72 ASSET MANAGEMENT, L.P. purchased a new stake in MMAT valued at around $56,000 in the second quarter. In total, there are 133 active investors with 9.90% ownership of the company’s stock.
Wednesday morning saw Meta Materials Inc. (NASDAQ: MMAT) opened at $0.2600. During the past 12 months, Meta Materials Inc. has had a low of $0.18 and a high of $2.34. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 0.90, and a quick ratio of 0.80. The fifty day moving average price for MMAT is $0.3132 and a two-hundred day moving average price translates $0.8598 for the stock.
The latest earnings results from Meta Materials Inc. (NASDAQ: MMAT) was released for Mar, 2023. According to the Electronic Components Company, earnings per share came in at -$0.05, missing analysts’ expectations of -$0.04 by -0.01. This compares to -$0.06 EPS in the same period last year. The company reported revenue of $1.41 million for the quarter, compared to $2.98 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -52.54 percent. For the current quarter, analysts expect MMAT to generate $4.07M in revenue.
Meta Materials Inc.(MMAT) Company Profile
Meta Materials Inc., a smart materials and photonics company, develops, manufactures, and sells various functional materials and nanocomposites. The company products include metaAIR, a laser glare protection eyewear; NANOWEB, a transparent conductive film; holoOPTIX, a holographic optical element; glucoWISE, a non-invasive glucose measurement device; and metaSURFACE, which allows an enhancement in signal to noise ratio of up to 40 times for magnetic resonance imaging scans. It also develops and produces nano-optic structures and color-shifting foils that are used in authentication and brand protection applications in various markets, including banknotes, secure government documents, and commercial branding. In addition, the company develops NPORE, a ceramic nanoporous membrane separator for lithium-ion batteries. Its customers are OEM providers in various industries, including aerospace, automotive, consumer electronics, communications, energy, banknote and brand security, and medical devices. The company was formerly known as Torchlight Energy Resources, Inc. and changed its name to Meta Materials Inc. in June 2021. Meta Materials Inc. was incorporated in 2011 and is headquartered in Dartmouth, Canada.
