Meta Materials Inc. [NASDAQ: MMAT] traded at a low on 09/16/22, posting a -5.26 loss after which it closed the day’ session at $0.81. The company report on August 17, 2022 that Meta Materials Appoints Semiconductor Veteran, Jack Harding, as Chair of the Board of Directors.
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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. Jack Harding as Chair of the Board of Directors, effective August 16, 2022. Mr. Ram Ramkumar, META’s current Chair, is retiring from the Board and moving into a Strategic Advisor role for a period of two years. The Company wishes to thank Mr. Ramkumar for his dedication during this transformative period which included among many milestones META’s June 2021 listing on the NASDAQ via a reverse merger with Torchlight Energy Resources.
“Delivering innovation at scale is only achievable with the support and guidance of leaders who have successfully done it before,” said George Palikaras President & CEO. “I am excited to have Jack Harding join us as Chair as we enter this new growth phase in our journey to become the world’s leading metamaterials company. His wealth of experience in the semiconductor industry, and his knowledge of every facet of a high-tech business, will be tremendously beneficial to us. On behalf of META’s Board, it is my pleasure to welcome Jack, and we want to thank Ram for all his contributions and look forward to his continued support in his new advisory role.”.
The results of the trading session contributed to over 20113280 shares changing hands. Over the past one week, the price volatility of Meta Materials Inc. stands at 6.99% while the volatility over the past one month is 6.91%.
The market cap for MMAT stock reached $310.04 million, with 301.49 million shares outstanding and 270.74 million shares in the current float. Compared to the average trading volume of 6.10M shares, MMAT reached a trading volume of 20113280 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $3.00 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 0.06, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 33.70. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 0.14.
How has MMAT stock performed recently?
Meta Materials Inc. [MMAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.91. With this latest performance, MMAT shares dropped by -9.98% in over the last four-week period, additionally sinking by -54.99% over the last 6 months – not to mention a drop of -84.06% 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 45.38, with the RSI for the last a single of trading hit 47.10, and the three-weeks RSI is set at 43.81 for Meta Materials Inc. [MMAT]. The present Moving Average for the last 50 days of trading for this stock 0.8927, while it was recorded at 0.8280 for the last single week of trading, and 1.6075 for the last 200 days.
Meta Materials Inc. [MMAT]: Deeper insight into the 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 1.50 and a Current Ratio set at 1.50.
Insider trade positions for Meta Materials Inc. [MMAT]
There are presently around $42 million, or 14.20% of MMAT stock, in the hands of institutional investors. The top three institutional holders of MMAT stocks are: STATE STREET CORP with ownership of 12,816,209, which is approximately -46.849% of the company’s market cap and around 0.90% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 5,488,318 shares of the stock with an approximate value of $4.47 million in MMAT stocks shares; and EMPERY ASSET MANAGEMENT, LP, currently with $3.56 million in MMAT stock with ownership of nearly New of the company’s market capitalization.
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 48 institutional holders increased their position in Meta Materials Inc. [NASDAQ:MMAT] by around 18,854,027 shares. Additionally, 66 investors decreased positions by around 31,370,851 shares, while 20 investors held positions by with 734,705 shares. The mentioned changes placed institutional holdings at 50,959,583 shares, according to the latest SEC report filing. MMAT stock had 24 new institutional investments in for a total of 10,616,043 shares, while 34 institutional investors sold positions of 1,808,014 shares during the same period.