Market cap of Meta Materials Inc. [MMAT] reaches 382.70M – now what?


Meta Materials Inc. [NASDAQ: MMAT] gained 4.88% or 0.06 points to close at $1.29 with a heavy trading volume of 3788549 shares. The company report on April 27, 2022 that Meta Materials Appoints Chief Information Officer to Lead Digital Transformation Initiatives.

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Meta Materials Inc. (the “Company” or “META®”) (NASDAQ:MMAT)(FSE:MMAT) a developer of high-performance functional materials and nanocomposites, today announced the appointment of Mr. George Francis to the newly created position of Chief Information Officer. Mr. Francis brings over twenty-five years of experience across a diverse range of industries, including manufacturing, retail, distribution, services, and SaaS. He will lead the Company’s design and implementation of IT architecture, systems, and cyber security, ensuring that META’s information technology capabilities are state-of-the-art and more than adequate to meet all ongoing global regulatory and compliance requirements. He will also provide valuable insights into potential monetization of the data that META’s emerging products are likely to generate.

“META’s proprietary platform technologies are powered by software and AI-enabled design tools. We have a critical need for robust and secure IT systems to ensure operational effectiveness as well as expanding regulatory compliance,” said Ken Rice, Chief Operating Officer and CFO of META. “I am delighted to welcome such a seasoned professional to our team to help bolster our regulatory compliance and internal control efforts, support our growth, protect our intellectual property, and deliver on our business objectives.”.

It opened the trading session at $1.21, the shares rose to $1.30 and dropped to $1.17, the range by which the price of stock traded the whole day. The daily chart for MMAT points out that the company has recorded -73.89% loss over the past six months. However, it is still -12.17% lower than its most recent low trading price.

If we look at the average trading volume of 5.12M shares, MMAT reached to a volume of 3788549 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Meta Materials Inc. [MMAT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMAT shares is $5.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MMAT stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Meta Materials Inc. is set at 0.12, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 93.34. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 0.17.

Trading performance analysis for MMAT stock

Meta Materials Inc. [MMAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.40. With this latest performance, MMAT shares dropped by -25.86% in over the last four-week period, additionally sinking by -73.89% over the last 6 months – not to mention a drop of -66.58% 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 42.49, with the RSI for the last a single of trading hit 44.62, and the three-weeks RSI is set at 42.23 for Meta Materials Inc. [MMAT]. The present Moving Average for the last 50 days of trading for this stock 1.5916, while it was recorded at 1.2480 for the last single week of trading, and 3.1339 for the last 200 days.

Meta Materials Inc. [MMAT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Meta Materials Inc. [MMAT] shares currently have an operating margin of -932.22 and a Gross Margin at -12.85. Meta Materials Inc.’s Net Margin is presently recorded at -2228.95.

Return on Equity for this stock declined to -52.39, with Return on Assets sitting at -39.02.

Meta Materials Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

An analysis of insider ownership at Meta Materials Inc. [MMAT]

There are presently around $74 million, or 21.30% of MMAT stock, in the hands of institutional investors. The top three institutional holders of MMAT stocks are: STATE STREET CORP with ownership of 17,584,762, which is approximately 379.782% of the company’s market cap and around 2.40% of the total institutional ownership; BLACKROCK INC., holding 14,043,804 shares of the stock with an approximate value of $17.27 million in MMAT stocks shares; and VANGUARD GROUP INC, currently with $6.58 million in MMAT stock with ownership of nearly 21.993% of the company’s market capitalization.

66 institutional holders increased their position in Meta Materials Inc. [NASDAQ:MMAT] by around 24,331,845 shares. Additionally, 46 investors decreased positions by around 3,315,389 shares, while 19 investors held positions by with 32,190,797 shares. The mentioned changes placed institutional holdings at 59,838,031 shares, according to the latest SEC report filing. MMAT stock had 35 new institutional investments in for a total of 3,356,408 shares, while 18 institutional investors sold positions of 1,442,320 shares during the same period.