This trade activity should not be overlooked: Matterport Inc. (MTTR)

Matterport Inc. (NASDAQ: MTTR) stock jumped 3.38% on Friday to $3.06 against a previous-day closing price of $2.96. With 1.71 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.59 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $3.0700 whereas the lowest price it dropped to was $2.9500. The 52-week range on MTTR shows that it touched its highest point at $12.56 and its lowest point at $2.37 during that stretch. It currently has a 1-year price target of $6.17.

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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 MTTR was down-trending over the past week, with a drop of -4.08%, but this was up by 20.95% over a month. Three-month performance dropped to -11.56% while six-month performance fell -31.08%. The stock lost -74.31% in the past year, while it has gained 9.29% so far this year. A look at the trailing 12-month EPS for MTTR yields -0.86 with Next year EPS estimates of -0.38. For the next quarter, that number is -0.10. This implies an EPS growth rate of -692.10% for this year and 9.50% for next year.

Float and Shares Shorts:

At present, 286.46 million MTTR shares are outstanding with a float of 276.08 million shares on hand for trading. On Oct 13, 2022, short shares totaled 26.81 million, which was 9.45% higher than short shares on Sep 14, 2022. In addition to Mr. Raymond J. Pittman as the firm’s Chairman & CEO, Mr. James Daniel Fay serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 45.81% of MTTR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 15.95% of MTTR, in contrast to 13.11% held by mutual funds. Shares owned by individuals account for 10.19%. As the largest shareholder in MTTR with 5.96% of the stake, The Vanguard Group, Inc. holds 17,116,196 shares worth 17,116,196. A second-largest stockholder of MTTR, BlackRock Fund Advisors, holds 14,003,248 shares, controlling over 4.87% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in MTTR, holding 4,757,681 shares or 1.66% stake. With a 2.73% stake in MTTR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 7,851,178 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.73% of MTTR stock, is the second-largest Mutual Fund holder. It holds 4,971,459 shares valued at 13.92 million. Vanguard Small Cap Index Fund holds 1.10% of the stake in MTTR, owning 3,148,383 shares worth 8.82 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MTTR since 7 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MTTR analysts setting a high price target of $12.00 and a low target of $3.00, the average target price over the next 12 months is $6.17. Based on these targets, MTTR could surge 292.16% to reach the target high and fall by -1.96% to reach the target low. Reaching the average price target will result in a growth of 101.63% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MTTR will report FY 2022 earnings on 02/15/2024. Analysts have provided yearly estimates in a range of -$0.41 being high and -$0.42 being low. For MTTR, this leads to a yearly average estimate of -$0.42. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Matterport Inc. surprised analysts by $0.04 when it reported -$0.09 EPS against a consensus estimate of -$0.13. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.10. The average estimate for the next quarter is thus -$0.10.

Summary of Insider Activity:

Insiders traded MTTR stock several times over the past three months with 5 Buys and 4 Sells. In these transactions, 20,705 shares were bought while 442,019 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 7,350,165 while 7,209,463 shares were sold.

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