Meta Materials Inc. [NASDAQ: MMAT] traded at a low on 10/14/22, posting a -2.32 loss after which it closed the day’ session at $0.91. The company report on September 29, 2022 that Meta Materials Receives $4.3 Million in Purchase Orders.
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Meta Materials Inc. (the “Company” or “META®”) (NASDAQ:MMAT)(FSE:MMAT), a developer of high-performance smart materials and nanocomposites, today announced that it has been awarded US$4.3 million in purchase orders for its nano-optic security business, which provides anti-counterfeiting features for currencies and government documents and authentication for brands.
META has been executing an agreement with a maximum value of US$41.5 million over a period of up to five years with a confidential G10 central bank customer. The new purchase orders represent a base award for continued work under the multi-year agreement. The customer may elect to increase the scope of the base award with additional purchase orders.
The results of the trading session contributed to over 22704531 shares changing hands. Over the past one week, the price volatility of Meta Materials Inc. stands at 24.13% while the volatility over the past one month is 11.32%.
The market cap for MMAT stock reached $336.26 million, with 301.49 million shares outstanding and 270.96 million shares in the current float. Compared to the average trading volume of 5.65M shares, MMAT reached a trading volume of 22704531 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 0.10, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 36.55. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 0.15.
How has MMAT stock performed recently?
Meta Materials Inc. [MMAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.16. With this latest performance, MMAT shares gained by 5.83% in over the last four-week period, additionally sinking by -38.93% over the last 6 months – not to mention a drop of -82.40% 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 59.10, with the RSI for the last a single of trading hit 62.37, and the three-weeks RSI is set at 55.63 for Meta Materials Inc. [MMAT]. The present Moving Average for the last 50 days of trading for this stock 0.8134, while it was recorded at 0.8862 for the last single week of trading, and 1.3843 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 $46 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 0.40% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 5,488,318 shares of the stock with an approximate value of $4.99 million in MMAT stocks shares; and EMPERY ASSET MANAGEMENT, LP, currently with $3.98 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 November and at the time of the November reporting period, where 50 institutional holders increased their position in Meta Materials Inc. [NASDAQ:MMAT] by around 18,868,201 shares. Additionally, 65 investors decreased positions by around 31,297,478 shares, while 20 investors held positions by with 788,078 shares. The mentioned changes placed institutional holdings at 50,953,757 shares, according to the latest SEC report filing. MMAT stock had 26 new institutional investments in for a total of 10,630,217 shares, while 33 institutional investors sold positions of 1,795,541 shares during the same period.