Meta Materials Inc. [MMAT] moved down -8.77: Why It’s Important

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Meta Materials Inc. [NASDAQ: MMAT] loss -8.77% or -0.15 points to close at $1.56 with a heavy trading volume of 3368342 shares. The company report on June 3, 2022 that Meta Materials Named to Future 50 Fastest-Growing Sustainable Companies in Canada.


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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 that it has been selected by Corporate Knights Inc. for its inaugural Future 50 Fastest-Growing Sustainable Companies in Canada ranking. Selected from a pool of 5,115 Canadian companies (1,100 public, 4,015 private), the ranking is made up of the fastest-growing 25 publicly traded companies (year-over-year revenue growth %) and the fastest-growing 25 privately owned companies (growth % in capital raised from two most recent funding rounds) whose business activities align with the transition to a global clean energy economy.

“We are proud to be recognized by Corporate Knights for this important new ranking,” said George Palikaras, President and CEO. “META designs and manufactures new highly functional materials and devices which use less energy, less materials, and improve supply chains by replacing scarce materials with readily available commodities. Sustainability and breakthrough performance are central to our strategy, which includes targeting key end markets such as solar energy and next generation materials for batteries and thermoelectric generators, and we are expanding production at our facility in Thurso, Quebec, which is powered by 99% clean, renewable hydropower.”.

It opened the trading session at $1.69, the shares rose to $1.69 and dropped to $1.53, the range by which the price of stock traded the whole day. The daily chart for MMAT points out that the company has recorded -54.25% loss over the past six months. However, it is still -51.46% lower than its most recent low trading price.

If we look at the average trading volume of 4.48M shares, MMAT reached to a volume of 3368342 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 $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 0.15, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 74.33. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 0.10.

Trading performance analysis for MMAT stock

Meta Materials Inc. [MMAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.46. With this latest performance, MMAT shares gained by 32.20% in over the last four-week period, additionally sinking by -54.25% over the last 6 months – not to mention a drop of -74.09% 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 45.72, with the RSI for the last a single of trading hit 39.49, and the three-weeks RSI is set at 47.80 for Meta Materials Inc. [MMAT]. The present Moving Average for the last 50 days of trading for this stock 1.5216, while it was recorded at 1.7040 for the last single week of trading, and 2.9190 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 1.30 and a Current Ratio set at 1.30.

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

There are presently around $109 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 $23.98 million in MMAT stocks shares; and VANGUARD GROUP INC, currently with $9.63 million in MMAT stock with ownership of nearly 5.359% of the company’s market capitalization.

Positions in Meta Materials Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 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.

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