Meta Materials Inc. (NASDAQ: MMAT) stock jumped 3.97% on Friday to $0.92 against a previous-day closing price of $0.88. With 2.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.17 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $0.9200 whereas the lowest price it dropped to was $0.8838. The 52-week range on MMAT shows that it touched its highest point at $6.55 and its lowest point at $0.88 during that stretch. It currently has a 1-year price target of $3.00. Beta for the stock currently stands at 1.57.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MMAT was up-trending over the past week, with a rise of 1.88%, but this was down by -14.02% over a month. Three-month performance dropped to -25.20% while six-month performance fell -50.80%. The stock lost -71.87% in the past year, while it has lost -62.60% so far this year. A look at the trailing 12-month EPS for MMAT yields -0.23 with Next year EPS estimates of -0.09. For the next quarter, that number is -0.05. This implies an EPS growth rate of -38.70% for this year and 25.00% for next year.
Float and Shares Shorts:
At present, 285.23 million MMAT shares are outstanding with a float of 270.79 million shares on hand for trading. On Jul 14, 2022, short shares totaled 30.48 million, which was 8.45% higher than short shares on Jun 14, 2022. In addition to Dr. George Palikaras Ph.D. as the firm’s Founder, CEO, Pres & Director, Mr. Kenneth L. Rice Jr., J.D., L.L.M., LLM, M.B.A., MBA serves as its Exec. VP, CFO & COO.
Through their ownership of 17.67% of MMAT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.04% of MMAT, in contrast to 16.00% held by mutual funds. Shares owned by individuals account for 13.38%. As the largest shareholder in MMAT with 8.13% of the stake, SSgA Funds Management, Inc. holds 24,112,960 shares worth 24,112,960. A second-largest stockholder of MMAT, BlackRock Fund Advisors, holds 12,506,436 shares, controlling over 4.22% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MMAT, holding 5,111,373 shares or 1.72% stake. With a 3.26% stake in MMAT, the SPDR S&P Semiconductor ETF is the largest stakeholder. A total of 9,674,386 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.07% of MMAT stock, is the second-largest Mutual Fund holder. It holds 3,168,633 shares valued at 3.26 million. SPDR S&P Kensho New Economies Com holds 0.67% of the stake in MMAT, owning 1,995,698 shares worth 2.06 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MMAT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MMAT stock several times over the past three months with 5 Buys and 0 Sells. In these transactions, 155,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 29 while that of sell transactions has risen to 46 over the past year. The total number of shares bought during that period was 12,459,223 while 2,974,778 shares were sold.