Matterport Inc (NASDAQ: MTTR) stock jumped 0.37% on Friday to $2.71 against a previous-day closing price of $2.70. With 2.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.14 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $2.7750 whereas the lowest price it dropped to was $2.6700. The 52-week range on MTTR shows that it touched its highest point at $4.07 and its lowest point at $1.84 during that stretch. It currently has a 1-year price target of $4.30. Beta for the stock currently stands at 1.83.
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 up-trending over the past week, with a rise of 9.27%, but this was up by 30.92% over a month. Three-month performance surged to 10.61% while six-month performance fell -0.37%. The stock lost -23.23% in the past year, while it has lost -3.21% so far this year. A look at the trailing 12-month EPS for MTTR yields -0.73 with Next year EPS estimates of -0.11. For the next quarter, that number is -0.04. This implies an EPS growth rate of 45.78% for this year and 49.26% for next year.
Float and Shares Shorts:
At present, 290.54 million MTTR shares are outstanding with a float of 250.71 million shares on hand for trading. On Oct 30, 2023, short shares totaled 13.63 million, which was 4.46% higher than short shares on Sep 28, 2023. In addition to Mr. Raymond J. Pittman as the firm’s Chairman & CEO, Mr. James Daniel Fay serves as its Chief Financial Officer.
Through their ownership of 43.11% of MTTR’s outstanding shares, institutional investors have minority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MTTR 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 MTTR analysts setting a high price target of $8.00 and a low target of $2.50, the average target price over the next 12 months is $4.30. Based on these targets, MTTR could surge 195.2% to reach the target high and fall by -7.75% to reach the target low. Reaching the average price target will result in a growth of 58.67% from current levels.
Summary of Insider Activity:
Insiders traded MTTR stock several times over the past three months with 6 Buys and 6 Sells. In these transactions, 82,535 shares were bought while 771,701 shares were sold. The number of buy transactions has increased to 44 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 3,371,580 while 2,435,089 shares were sold.