Meta Materials Inc. [NASDAQ: MMAT] stock went on a downward path that fall over -3.70% on Tuesday, amounting to a one-week price increase of more than 2.96%. The company report on August 9, 2022 that Meta Materials Announces Q2 FY 2022 Results.
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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 second quarter FY 2022 results. Please visit the Investors section of our website to view the Q2 2022 Shareholder Letter. The Company will host a webcast on Wednesday, August 10, 2022, at 8:00 AM EDT.
The Q2 2022 financial statements and associated management discussion and analysis for the quarter ended June 30, 2022 are available on the Investors section of our website as well as on Nasdaq.com, or on the SEC EDGAR website at www.sec.gov.
Over the last 12 months, MMAT stock dropped by -74.34%. The one-year Meta Materials Inc. stock forecast points to a potential upside of 69.67. 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 $332.41 million, with 285.23 million shares outstanding and 270.79 million shares in the current float. Compared to the average trading volume of 6.17M shares, MMAT stock reached a trading volume of 4338068 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 $3.00 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 0.05, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 51.14. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 0.08.
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 2.96. With this latest performance, MMAT shares dropped by -8.89% in over the last four-week period, additionally sinking by -44.78% over the last 6 months – not to mention a drop of -74.34% 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 38.39, with the RSI for the last a single of trading hit 40.72, and the three-weeks RSI is set at 38.83 for Meta Materials Inc. [MMAT]. The present Moving Average for the last 50 days of trading for this stock 1.2358, while it was recorded at 0.9215 for the last single week of trading, and 2.1040 for the last 200 days.
Insight into Meta Materials Inc. Fundamentals:
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 $59 million, or 17.70% 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 1.80% of the total institutional ownership; BLACKROCK INC., holding 14,025,054 shares of the stock with an approximate value of $12.78 million in MMAT stocks shares; and VANGUARD GROUP INC, currently with $5.13 million in MMAT stock with ownership of nearly 5.359% of the company’s market capitalization.
46 institutional holders increased their position in Meta Materials Inc. [NASDAQ:MMAT] by around 12,016,411 shares. Additionally, 65 investors decreased positions by around 7,113,887 shares, while 20 investors held positions by with 45,599,900 shares. The mentioned changes placed institutional holdings at 64,730,198 shares, according to the latest SEC report filing. MMAT stock had 18 new institutional investments in for a total of 2,859,564 shares, while 34 institutional investors sold positions of 1,773,447 shares during the same period.