Meta Materials Inc (NASDAQ: MMAT) stock jumped 1.08% on Friday to $0.09 against a previous-day closing price of $0.09. With 5.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.53 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $0.0971 whereas the lowest price it dropped to was $0.0907. The 52-week range on MMAT shows that it touched its highest point at $2.34 and its lowest point at $0.09 during that stretch. It currently has a 1-year price target of $1.50. Beta for the stock currently stands at 2.04.
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 down-trending over the past week, with a drop of -6.10%, but this was down by -50.94% over a month. Three-month performance dropped to -58.01% while six-month performance fell -60.96%. The stock lost -94.69% in the past year, while it has lost -92.11% so far this year.
Float and Shares Shorts:
At present, 490.42 million MMAT shares are outstanding with a float of 403.03 million shares on hand for trading. On Oct 30, 2023, short shares totaled 42.46 million, which was 8.68% higher than short shares on Sep 28, 2023. In addition to Mr. Uzi Sasson as the firm’s Chief Executive Officer, Dr. Efthymios Kallos Ph.D. serves as its Co-Founder & Chief Science Officer.
Institutional Ownership:
Through their ownership of 7.61% of MMAT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.75% of MMAT, in contrast to 12.46% held by mutual funds. Shares owned by individuals account for 1.98%. As the largest shareholder in MMAT with 1.11% of the stake, BlackRock Fund Advisors holds 5,427,738 shares worth 5,427,738. A second-largest stockholder of MMAT, The Vanguard Group, Inc., holds 5,342,305 shares, controlling over 1.09% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in MMAT, holding 4,021,357 shares or 0.82% stake. With a 1.09% stake in MMAT, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 5,342,305 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.39% of MMAT stock, is the second-largest Mutual Fund holder. It holds 1,918,218 shares valued at 0.23 million. Fidelity Total Market Index Fund holds 0.12% of the stake in MMAT, owning 604,133 shares worth 73100.0.
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 $1.50 and a low target of $1.50, the average target price over the next 12 months is $1.50. Based on these targets, MMAT could surge 1566.67% to reach the target high and rise by 1566.67% to reach the target low. Reaching the average price target will result in a growth of 1566.67% from current levels.
Summary of Insider Activity:
Insiders traded MMAT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 3,399,186 while 221,652 shares were sold.
