Market cap of Meta Materials Inc. [MMAT] reaches 511.87M – now what?


Meta Materials Inc. [NASDAQ: MMAT] stock went on a downward path that fall over -4.17% on Wednesday, amounting to a one-week price increase of more than 0.55%. The company report on June 1, 2022 that Meta Materials Demonstrates World’s Most Transparent Antenna in Prescription Lenses for Extended Reality Applications.

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ARfusion™ platform and NANOWEB® Transparent 5G Antennas enable immersive mobile XR experiences by combining on-device advanced visualization, 5G, and edge to cloud data transfers.

Meta Materials Inc. (the “Company” or “META®”) (NASDAQ:MMAT), (FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced the demonstration of the patent-pending, world’s most transparent antenna in prescription lenses for Extended Reality (XR) applications at AWE USA 2022 in Santa Clara, CA. Transparent antennas for 5G and other frequency bands will be one of a wide range of functionalities which can be embedded into ophthalmic lenses using the ARfusion™ automated lens casting system. META will also deliver two presentations on June 1st and June 3rd: Automated Lens Casting Embedding Multi-Functional Metasurfaces for AR Displays, with Dr. Jonathan Waldern, and A Renaissance for Free Space Combiners, with Dr. Andrew Mark.

Over the last 12 months, MMAT stock dropped by -66.91%. The one-year Meta Materials Inc. stock forecast points to a potential upside of 48.6. The average equity rating for MMAT stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $511.87 million, with 285.23 million shares outstanding and 192.50 million shares in the current float. Compared to the average trading volume of 4.97M shares, MMAT stock reached a trading volume of 4135219 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $3.58 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 1.70. 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 0.16, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 78.75. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 0.11.

MMAT Stock Performance Analysis:

Meta Materials Inc. [MMAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.55. With this latest performance, MMAT shares gained by 44.88% in over the last four-week period, additionally sinking by -49.86% over the last 6 months – not to mention a drop of -66.91% 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 60.29, with the RSI for the last a single of trading hit 61.48, and the three-weeks RSI is set at 57.71 for Meta Materials Inc. [MMAT]. The present Moving Average for the last 50 days of trading for this stock 1.5390, while it was recorded at 1.7740 for the last single week of trading, and 2.9604 for the last 200 days.

Insight into Meta Materials Inc. Fundamentals:

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 1.30 and a Current Ratio set at 1.30.

Meta Materials Inc. [MMAT] Insider Position Details

There are presently around $122 million, or 21.70% of MMAT stock, in the hands of institutional investors. The top three institutional holders of MMAT stocks are: STATE STREET CORP with ownership of 24,112,960, which is approximately 37.124% of the company’s market cap and around 2.30% of the total institutional ownership; BLACKROCK INC., holding 14,025,054 shares of the stock with an approximate value of $26.93 million in MMAT stocks shares; and VANGUARD GROUP INC, currently with $10.81 million in MMAT stock with ownership of nearly 5.359% of the company’s market capitalization.

53 institutional holders increased their position in Meta Materials Inc. [NASDAQ:MMAT] by around 10,282,378 shares. Additionally, 61 investors decreased positions by around 6,681,442 shares, while 22 investors held positions by with 46,704,630 shares. The mentioned changes placed institutional holdings at 63,668,450 shares, according to the latest SEC report filing. MMAT stock had 19 new institutional investments in for a total of 1,073,416 shares, while 26 institutional investors sold positions of 1,819,211 shares during the same period.