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Meta Materials Inc. (NASDAQ: MMAT)’s Stock Performance and Outlook

In the latest trading session, 0.95 million Meta Materials Inc. (NASDAQ:MMAT) shares changed hands as the company’s beta touched 2.14. With the company’s most recent per share price at $0.21 changing hands around $0.0 or 1.18% at last look, the market valuation stands at $108.72M. MMAT’s current price is a discount, trading about -1014.29% off its 52-week high of $2.34. The share price had its 52-week low at $0.17, which suggests the last value was 19.05% up since then. When we look at Meta Materials Inc.’s average trading volume, we note the 10-day average is 2.76 million shares, with the 3-month average coming to 5.68 million.

Meta Materials Inc. (NASDAQ:MMAT) trade information

Instantly MMAT is in green as seen in intraday trades today. With action -1.57%, the performance over the past five days has been red. The jump to weekly highs of 0.2322 on Friday, 09/15/23 added 1.18% to the stock’s daily price. The company’s shares are showing year-to-date downside of -82.05%, with the 5-day performance at -1.57% in the red. However, in the 30-day time frame, Meta Materials Inc. (NASDAQ:MMAT) is -0.65% down. Looking at the short shares, we see there were 48.36 million shares sold at short interest cover period of 7.1 days.

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Meta Materials Inc. (MMAT) estimates and forecasts

Data shows that the Meta Materials Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -57.07% over the past 6 months, a -196.00% in annual growth rate that is considerably lower than the industry average of 1.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Meta Materials Inc. will rise 71.40%, while the growth in revenue is estimated to hit 50.00% for the next quarter. Year-over-year growth is forecast to reach -11.80% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $2.5 million. 1 analysts are of the opinion that Meta Materials Inc.’s revenue for the quarter ending Dec 2023 will be $3.1 million. The company’s revenue for the corresponding quarters a year ago was $3.62 million and $1.45 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -30.90%. The estimates for the next quarter sales put growth at 114.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -50.80%. The 2023 estimates are for Meta Materials Inc. earnings to increase by 38.30%.

MMAT Dividends

Meta Materials Inc. is expected to release its next quarterly earnings report between November 07 and November 13.

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

If we look at who the major shareholders are, we find that insiders hold 26.93% of Meta Materials Inc. shares while 7.61% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 10.42%. There are 7.61% institutions holding the Meta Materials Inc. stock share, with Alyeska Investment Group, L.p. the top institutional holder. As of Jun 29, 2023, the company held 1.28% of the shares, roughly 6.0 million MMAT shares worth $1.29 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 1.17% or 5.44 million shares worth $1.17 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 4.43 million shares estimated at $0.95 million under it, the former controlled 0.95% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.35% of the shares, roughly 1.65 million shares worth around $0.35 million.

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