Meta Materials Inc (MMAT) Holding Strong: What’s pushing it?

In yesterday’s Wall Street session, Meta Materials Inc (NASDAQ:MMAT) shares traded at $0.10, up 0.81% from the previous session.

1 analysts cover Meta Materials Inc (NASDAQ:MMAT), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $1.50 and a low of $1.50, we find $1.50. Given the previous closing price of $0.10, this indicates a potential upside of 1400.0 percent. MMAT stock price is now -46.78% away from the 50-day moving average and -69.00% away from the 200-day moving average. The market capitalization of the company currently stands at $48.94M.

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Brokers who have rated the stock have averaged $1.50 as their price target over the next twelve months.

In other news, Palikaras Georgios, CEO and President bought 100,000 shares of the company’s stock on Aug 16. The stock was bought for $22,660 at an average price of $0.23. Upon completion of the transaction, the CEO and President now directly owns 1,385,490 shares in the company, valued at $0.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 13, RICE KENNETH L JR sold 18,454 shares of the business’s stock. A total of $11,626 was realized by selling the stock at an average price of $0.63. This leaves the insider owning 21,103 shares of the company worth $2110.3. Insiders disposed of 221,652 shares of company stock worth roughly $22165.2 over the past 1 year. A total of 18.26% of the company’s stock is owned by insiders.

On Friday morning Meta Materials Inc (NASDAQ: MMAT) stock kicked off with the opening price of $0.1005. During the past 12 months, Meta Materials Inc has had a low of $0.10 and a high of $2.34. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 1.18, and a quick ratio of 1.15. The fifty day moving average price for MMAT is $0.1854 and a two-hundred day moving average price translates $0.3182 for the stock.

The latest earnings results from Meta Materials Inc (NASDAQ: MMAT) was released for Jun, 2023. According to the Electronic Components Company, earnings per share came in at -$0.02, inline with analysts’ expectations of -$0.02. This compares to -$0.07 EPS in the same period last year. The net profit margin was -4792.78% and return on equity was -136.60% for MMAT. The company reported revenue of $2.03 million for the quarter, compared to $3.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -38.9 percent. For the current quarter, analysts expect MMAT to generate $2.5M 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.

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