Meta Materials Inc. (NASDAQ: MMAT) stock fell -6.21% on Wednesday to $0.24 against a previous-day closing price of $0.26. With 6.24 million shares changed hands, the volume of the stock remained lighter than its average volume of 11.29 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $0.2667 whereas the lowest price it dropped to was $0.2355. The 52-week range on MMAT shows that it touched its highest point at $2.34 and its lowest point at $0.18 during that stretch. It currently has a 1-year price target of $1.75. Beta for the stock currently stands at 2.08.
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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 7.05%, but this was up by 24.74% over a month. Three-month performance dropped to -64.26% while six-month performance fell -88.75%. The stock lost -87.66% in the past year, while it has lost -79.58% so far this year. A look at the trailing 12-month EPS for MMAT yields -0.24 with Next year EPS estimates of -0.10. For the next quarter, that number is -0.04. This implies an EPS growth rate of 38.30% for this year and 40.00% for next year.
Float and Shares Shorts:
At present, 368.88 million MMAT shares are outstanding with a float of 267.06 million shares on hand for trading. On May 14, 2023, short shares totaled 31.83 million, which was 6.81% higher than short shares on Apr 13, 2023. In addition to Dr. George Palikaras Ph.D. as the firm’s Founder, CEO, Pres & Director, Dr. Efthymios Kallos Ph.D. serves as its Co-Founder & Chief Science Officer.
Institutional Ownership:
Through their ownership of 8.75% of MMAT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.22% of MMAT, in contrast to 3.35% held by mutual funds. Shares owned by individuals account for 10.61%. As the largest shareholder in MMAT with 1.33% of the stake, SSgA Funds Management, Inc. holds 6,191,421 shares worth 6,191,421. A second-largest stockholder of MMAT, BlackRock Fund Advisors, holds 6,030,142 shares, controlling over 1.29% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MMAT, holding 4,490,257 shares or 0.96% stake. With a 0.99% stake in MMAT, the SPDR S&P Kensho New Economies Com is the largest stakeholder. A total of 4,602,104 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.96% of MMAT stock, is the second-largest Mutual Fund holder. It holds 4,490,257 shares valued at 0.83 million. Fidelity Extended Market Index Fu holds 0.36% of the stake in MMAT, owning 1,681,459 shares worth 0.31 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MMAT reported revenue of $3.32M and operating income of -$19.64M. The EBITDA in the recently reported quarter was -$18.16M and diluted EPS was -$0.07.
Analysts Ratings:
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. With MMAT analysts setting a high price target of $2.00 and a low target of $1.50, the average target price over the next 12 months is $1.67. Based on these targets, MMAT could surge 733.33% to reach the target high and rise by 525.0% to reach the target low. Reaching the average price target will result in a growth of 595.83% 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.
