Meta Materials Inc. [MMAT] moved up 1.75: Why It’s Important

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Meta Materials Inc. [NASDAQ: MMAT] closed the trading session at $3.49 on 07/23/21. The day’s price range saw the stock hit a low of $3.35, while the highest price level was $3.61. The company report on July 23, 2021 that META Appoints Darren Ihmels as Vice President of Business Development Ophthalmics.

Meta Materials Inc. (the “Company” or “META®”) (NASDAQ:MMAT) a developer of high-performance functional materials and nanocomposites, announced it has appointed Mr. Darren Ihmels as Vice President Business Development Ophthalmics. Mr. Ihmels brings over 30 years of experience in opthalmic products, sales, manufacturing, equipment, and services for prescription lenses and smart augmented reality (AR) applications. He will be focused on growing META’s ARfusion™ technology, which combines precision cast lens fabrication tools and functional metamaterials and volume holograms, to provide META’s AR wearable developers with a platform for seamlessly integrating smart technologies into thin lightweight prescription glasses.

“To develop a commercially successful augmented reality eyewear business, it is necessary to elegantly combine the attributes of fashionable, lightweight and comfortable prescription eyewear with embedded smart technologies and displays,” said George Palikaras, President and CEO of META. “We are fortunate to have someone of Darren’s breadth of experience join our team as we commercialize the ARfusion™ system.”.

The stocks have a year to date performance of 149.29 percent and weekly performance of -3.86 percent. The stock has been moved at 5.76 percent over the last six months. The stock has performed -64.53 percent around the most recent 30 days and changed -3.86 percent over the most recent 3-months.

If compared to the average trading volume of 21.98M shares, MMAT reached to a volume of 12989930 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Meta Materials Inc. [MMAT]:

The Average True Range (ATR) for Meta Materials Inc. is set at 1.53, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 9745.13. The Price to Book ratio for the last quarter was 4.11, with the Price to Cash per share for the same quarter was set at 0.05.

MMAT stock trade performance evaluation

Meta Materials Inc. [MMAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.86. With this latest performance, MMAT shares dropped by -64.53% in over the last four-week period, additionally plugging by 5.76% over the last 6 months – not to mention a rise of 378.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MMAT stock in for the last two-week period is set at 39.08, with the RSI for the last a single of trading hit 35.15, and the three-weeks RSI is set at 42.03 for Meta Materials Inc. [MMAT]. The present Moving Average for the last 50 days of trading for this stock 6.37, while it was recorded at 3.49 for the last single week of trading, and 3.63 for the last 200 days.

Meta Materials Inc. [MMAT]: An insightful look at the core fundamentals

Meta Materials Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 34.10 and a Current Ratio set at 34.10.

Meta Materials Inc. [MMAT]: Insider Ownership positions

There are presently around $21 million, or 2.30% of MMAT stock, in the hands of institutional investors. The top three institutional holders of MMAT stocks are: VANGUARD GROUP INC with ownership of 2,595,624, which is approximately 71.538% of the company’s market cap and around 2.80% of the total institutional ownership; GMT CAPITAL CORP, holding 543,800 shares of the stock with an approximate value of $1.9 million in MMAT stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.67 million in MMAT stock with ownership of nearly 139.006% of the company’s market capitalization.

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Positions in Meta Materials Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 43 institutional holders increased their position in Meta Materials Inc. [NASDAQ:MMAT] by around 3,348,417 shares. Additionally, 14 investors decreased positions by around 837,641 shares, while 5 investors held positions by with 1,865,847 shares. The mentioned changes placed institutional holdings at 6,051,905 shares, according to the latest SEC report filing. MMAT stock had 29 new institutional investments in for a total of 1,616,101 shares, while 9 institutional investors sold positions of 171,015 shares during the same period.

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