Could Meta Materials Inc’s (NASDAQ: MMAT) Earnings Exceed Your Expectations?

In today’s recent session, 2.01 million shares of the Meta Materials Inc (NASDAQ:MMAT) have been traded, and its beta is 1.54. Most recently the company’s share price was $4.00, and it changed around $0.93 or 30.29% from the last close, which brings the market valuation of the company to $25.68M. MMAT at last check was trading at a discount to its 52-week high of $53.42, offering almost -1235.5% off that amount. The share price’s 52-week low was $1.80, which indicates that the recent value has risen by an impressive 55.0% since then. We note from Meta Materials Inc’s average daily trading volume that its 10-day average is 0.33 million shares, with the 3-month average coming to 304.67K.

Meta Materials Inc (NASDAQ:MMAT) trade information

Instantly MMAT has been showing a green trend so far today with a performance of 30.29% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -39.39% year-to-date, but still up 68.07% over the last five days. On the other hand, Meta Materials Inc (NASDAQ:MMAT) is 34.68% up in the 30-day period. We can see from the shorts that 0.68 million shares have been sold at a short interest cover period of 2.68 day(s).

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

Upon looking at major shareholders, it appears that insiders hold 14.53% of Meta Materials Inc shares, and 6.80% of them are in the hands of institutional investors. The stock currently has a share float of 7.95%. Meta Materials Inc stock is held by 84 institutions, with Alyeska Investment Group, L.p. being the largest institutional investor. By Jun 29, 2023, it held 1.28% of the shares, which is about 6.0 million shares worth $1.29 million.

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

Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 4.43 million shares worth $0.95 million, making up 0.95% of all outstanding shares. On the other hand, Fidelity Extended Market Index Fund held roughly 1.65 million shares worth around $0.35 million, which represents about 0.35% of the total shares outstanding.