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Meta Materials Inc. (NASDAQ: MMAT) Is Worth A Look At Current Prices?

During the last session, Meta Materials Inc. (NASDAQ:MMAT)’s traded shares were 6.24 million, with the beta value of the company hitting 2.08. At the end of the trading day, the stock’s price was $0.24, reflecting an intraday loss of -6.21% or -$0.02. The 52-week high for the MMAT share is $2.34, that puts it down -875.0 from that peak though still a striking 25.0% gain since the share price plummeted to a 52-week low of $0.18. The company’s market capitalization is $107.43M, and the average intraday trading volume over the past 10 days was 6.44 million shares, and the average trade volume was 11.29 million shares over the past three months.

Meta Materials Inc. (MMAT) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. MMAT has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.04.

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Meta Materials Inc. (NASDAQ:MMAT) trade information

Meta Materials Inc. (MMAT) registered a -6.21% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -6.21% in intraday trading to $0.24 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 7.05%, and it has moved by 24.74% in 30 days. Based on these gigs, the overall price performance for the year is -87.66%. The short interest in Meta Materials Inc. (NASDAQ:MMAT) is 34.58 million shares and it means that shorts have 2.5 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.67, which implies an increase of 85.63% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.50 and $2.00 respectively. As a result, MMAT is trading at a discount of -733.33% off the target high and -525.0% off the low.

Meta Materials Inc. (MMAT) estimates and forecasts

Statistics show that Meta Materials Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Meta Materials Inc. (MMAT) shares have gone down -88.75% during the last six months, with a year-to-date growth rate more than the industry average at 40.00% against 3.90. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 42.90% this quarter and then jump 57.10% in the quarter after that. In the rating firms’ projections, revenue will increase 126.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $4.07 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $6.39 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.32 million and $3.62 million respectively. In this case, analysts expect current quarter sales to grow by 22.40% and then jump by 76.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -50.80%. While earnings are projected to return 38.30% in 2023.

MMAT Dividends

Meta Materials Inc. is due to release its next quarterly earnings between August 07 and August 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Meta Materials Inc. insiders own 11.69% of total outstanding shares while institutional holders control 8.75%, with the float percentage being 9.91%. Blackrock Inc. is the largest shareholder of the company, while 133 institutions own stock in it. As of Mar 30, 2023, the company held over 6.44 million shares (or 1.38% of all shares), a total value of $1.57 million in shares.

The next largest institutional holding, with 6.19 million shares, is of State Street Corporation’s that is approximately 1.33% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.5 million.

Also, the Mutual Funds coming in first place with the largest holdings of Meta Materials Inc. (MMAT) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. Data provided on Feb 27, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF owns about 9.02 million shares. This amounts to just over 2.35 percent of the company’s overall shares, with a $2.19 million market value. The same data shows that the other fund manager holds slightly less at 4.58 million, or about 1.19% of the stock, which is worth about $1.11 million.

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