Meta Materials Inc. (NASDAQ: MMAT) is -58.45% lower on its value in year-to-date trading and has touched a low of $0.48 and a high of $2.34 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 $0.53 in the last trading session, with the day’s loss setting it -0.04% off its average median price target of $2.00 for the next 12 months. It is also 86.0% off the consensus price target high of $3.50 offered by 3 analysts, but current levels are 75.5% higher than the price target low of $2.00 for the same period.
Currently trading at $0.49, the stock is -19.80% and -41.80% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 13.06 million and changing -6.38% at the moment leaves the stock -54.58% off its SMA200. MMAT registered -70.75% loss for a year compared to 6-month loss of -37.90%.
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The stock witnessed a -32.78% gain in the last 1 month and extending the period to 3 months gives it a -63.91%, and is -10.11% 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 9.50% over the week and 8.15% over the month.
Meta Materials Inc. (MMAT) has around 130 employees, a market worth around $187.59M and $11.00M in sales. Distance from 52-week low is 3.00% and -78.87% 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 05/29/2023.The EPS is expected to shrink by -38.70% this year
Meta Materials Inc. (MMAT) Top Institutional Holders
The shares outstanding are 362.26M, and float is at 267.06M with Short Float at 15.31%.
Meta Materials Inc. (MMAT) Insider Activity
The most recent transaction is an insider sale by Welch Thomas Gordon, the company’s 10% Owner. SEC filings show that Welch Thomas Gordon sold 75,000 shares of the company’s common stock on Dec 07 at a price of $2.23 per share for a total of $0.17 million. Following the sale, the insider now owns 1.43 million shares.
Meta Materials Inc. disclosed in a document filed with the SEC on Aug 11 that Palikaras Georgios (CEO and President) bought a total of 42,000 shares of the company’s common stock. The trade occurred on Aug 11 and was made at $0.96 per share for $40320.0. Following the transaction, the insider now directly holds 1.16 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).