Meta Materials Inc [MMAT] Revenue clocked in at $7.09 million, down -11.82% YTD: What’s Next?

Meta Materials Inc [NASDAQ: MMAT] price surged by 9.19 percent to reach at $0.01. The company report on January 26, 2024 at 8:00 AM that Meta Materials Announces Preliminary Results for The Fourth Quarter 2023.

Fourth quarter 2023 revenue up 55% from the prior year comparable period.

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Operating expenses down 35% compared to the fourth quarter of 2022, excluding non-cash asset impairment.

The one-year MMAT stock forecast points to a potential upside of 96.0. The average equity rating for MMAT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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 $1.50 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 2.00. 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 0.01, with the Price to Sales ratio for MMAT stock in the period of the last 12 months amounting to 4.03. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 0.02.

MMAT Stock Performance Analysis:

Meta Materials Inc [MMAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.42. With this latest performance, MMAT shares dropped by -15.90% in over the last four-week period, additionally sinking by -71.97% over the last 6 months – not to mention a drop of -94.18% 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 39.59, with the RSI for the last a single of trading hit 38.62, and the three-weeks RSI is set at 39.23 for Meta Materials Inc [MMAT]. The present Moving Average for the last 50 days of trading for this stock 0.0732, while it was recorded at 0.0605 for the last single week of trading, and 0.1742 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 0.95 and a Current Ratio set at 0.96.

MMAT Stock EPS

With the latest financial reports released by the company, Meta Materials Inc posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MMAT.

Meta Materials Inc [MMAT] Institutonal Ownership Details

The top three institutional holders of MMAT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MMAT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MMAT stock with ownership which is approximately 5.8325%.