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Meta Materials Inc. (MMAT) – Don’t Believe the Hype: Check The Facts

Meta Materials Inc. (NASDAQ: MMAT) is -70.73% lower on its value in year-to-date trading and has touched a low of $0.76 and a high of $6.55 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MMAT stock was last observed hovering at around $0.78 in the last trading session, with the day’s loss setting it -0.06% off its average median price target of $2.00 for the next 12 months. It is also 85.6% off the consensus price target high of $5.00 offered by 3 analysts, but current levels are 64.0% higher than the price target low of $2.00 for the same period.

Currently trading at $0.72, the stock is -11.66% and -18.14% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.46 million and changing -8.08% at the moment leaves the stock -54.14% off its SMA200. MMAT registered -85.96% loss for a year compared to 6-month loss of -61.08%.

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The stock witnessed a -10.26% gain in the last 1 month and extending the period to 3 months gives it a -62.30%, and is -16.26% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.89% over the week and 7.22% over the month.

Meta Materials Inc. (MMAT) has around 130 employees, a market worth around $274.04M and $9.20M in sales. Distance from 52-week low is -5.83% and -89.01% from its 52-week high. The company has generated returns on investments over the last 12 months (-23.00%).

Meta Materials Inc. (MMAT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Meta Materials Inc. (MMAT) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 1 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Meta Materials Inc. is expected to release its quarterly report on 11/14/2022.The EPS is expected to shrink by -38.70% this year

Meta Materials Inc. (MMAT) Top Institutional Holders

The shares outstanding are 301.49M, and float is at 270.74M with Short Float at 11.16%.

Meta Materials Inc. (MMAT) Insider Activity

A total of 7 insider transactions have happened at Meta Materials Inc. (MMAT) in the last six months, with sales accounting for 0 and purchases happening 7 times. The most recent transaction is an insider purchase by Palikaras Georgios, the company’s CEO and President. SEC filings show that Palikaras Georgios bought 42,000 shares of the company’s common stock on Aug 11 at a price of $0.96 per share for a total of $40320.0. Following the purchase, the insider now owns 1.16 million shares.

Meta Materials Inc. disclosed in a document filed with the SEC on Jun 24 that Welch Thomas Gordon (10% Owner) bought a total of 35,000 shares of the company’s common stock. The trade occurred on Jun 24 and was made at $1.28 per share for $44800.0. Following the transaction, the insider now directly holds 2.45 million shares of the MMAT stock.

Still, SEC filings show that on Jun 24, Welch Thomas Gordon (10% Owner) acquired 35,000 shares at an average price of $1.30 for $45465.0. The insider now directly holds 1,948,242 shares of Meta Materials Inc. (MMAT).

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