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A Detailed Analysis Of Meta Materials Inc. (MMAT)

Meta Materials Inc. (NASDAQ:MMAT) has a beta value of 2.17 and has seen 4.54 million shares traded in the last trading session. The company, currently valued at $353.01M, closed the last trade at $1.08 per share which meant it gained $0.03 on the day or 2.86% during that session. The MMAT stock price is -116.67% off its 52-week high price of $2.34 and 41.67% above the 52-week low of $0.63. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.69 million shares traded. The 3-month trading volume is 11.36 million shares.

The consensus among analysts is that Meta Materials Inc. (MMAT) is an Overweight stock at the moment, with a recommendation rating of 1.70. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 0 out of 2 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.05.

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Meta Materials Inc. (NASDAQ:MMAT) trade information

Sporting 2.86% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the MMAT stock price touched $1.08. Year-to-date, Meta Materials Inc. shares have moved -9.24%, while the 5-day performance has seen it change 4.85%. Over the past 30 days, the shares of Meta Materials Inc. (NASDAQ:MMAT) have changed -12.20%. Short interest in the company has seen 30.42 million shares shorted with days to cover at 3.05.

Wall Street analysts have a consensus price target for the stock at $2.75, which means that the shares’ value could jump 60.73% from current levels. The projected low price target is $2.00 while the price target rests at a high of $3.50. In that case, then, we find that the current price level is -224.07% off the targeted high while a plunge would see the stock gain -85.19% from current levels.

Meta Materials Inc. (MMAT) estimates and forecasts

Figures show that Meta Materials Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 17.39% over the past 6 months, with this year growth rate of 35.90%, compared to -2.10% for the industry. Revenue growth from the last financial year stood is estimated to be 233.30%.

3 analysts offering their estimates for the company have set an average revenue estimate of $3.62 million for the current quarter. 3 have an estimated revenue figure of $3.69 million for the next quarter concluding in Dec 2022. Year-ago sales stood $573k and $2.29 million respectively for this quarter and the next, and analysts expect sales will grow by 531.80% for the current quarter and 61.20% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -1.90% over the past 5 years.

MMAT Dividends

Meta Materials Inc. is expected to release its next earnings report on August 10 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Meta Materials Inc. (NASDAQ:MMAT)’s Major holders

Insiders own 24.95% of the company shares, while shares held by institutions stand at 14.22% with a share float percentage of 18.95%. Investors are also buoyed by the number of investors in a company, with Meta Materials Inc. having a total of 139 institutions that hold shares in the company. The top two institutional holders are State Street Corporation with over 12.82 million shares worth more than $13.2 million. As of Jun 29, 2022, State Street Corporation held 3.55% of shares outstanding.

The other major institutional holder is Millennium Management Llc, with the holding of over 5.49 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $5.65 million and represent 1.52% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Extended Market Index Fund and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. As of Jun 29, 2022, the former fund manager holds about 0.88% shares in the company for having 3.17 million shares of worth $3.26 million while later fund manager owns 2.05 million shares of worth $1.33 million as of Sep 29, 2022, which makes it owner of about 0.57% of company’s outstanding stock.

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