Meta Materials Inc. (NASDAQ:MMAT) has a beta value of 1.33 and has seen 4.19 million shares traded in the last trading session. The company, currently valued at $689.10M, closed the last trade at $2.43 per share which meant it lost -$0.02 on the day or -0.82% during that session. The MMAT stock price is -795.47% off its 52-week high price of $21.76 and 29.63% above the 52-week low of $1.71. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.28 million shares traded. The 3-month trading volume is 7.37 million shares.
The consensus among analysts is that Meta Materials Inc. (MMAT) is a Buy stock at the moment, with a recommendation rating of 1.50. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 1 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight.
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Sporting -0.82% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 01/07/22 when the MMAT stock price touched $2.43 or saw a rise of 17.63%. Year-to-date, Meta Materials Inc. shares have moved -1.22%, while the 5-day performance has seen it change -1.22%. Over the past 30 days, the shares of Meta Materials Inc. (NASDAQ:MMAT) have changed -28.74%. Short interest in the company has seen 30.11 million shares shorted with days to cover at 4.2.
Wall Street analysts have a consensus price target for the stock at $6.50, which means that the shares’ value could jump 62.62% from current levels. The projected low price target is $6.50 while the price target rests at a high of $6.50. In that case, then, we find that the current price level is -167.49% off the targeted high while a plunge would see the stock gain -167.49% from current levels.
Meta Materials Inc. (MMAT) estimates and forecasts
The company’s shares have lost -38.32% over the past 6 months, compared to 20.80% for the industry.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 38.10% over the past 5 years.
Meta Materials Inc. is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Meta Materials Inc. (NASDAQ:MMAT)’s Major holders
Insiders own 32.23% of the company shares, while shares held by institutions stand at 13.85% with a share float percentage of 20.44%. Investors are also buoyed by the number of investors in a company, with Meta Materials Inc. having a total of 126 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 13.97 million shares worth more than $80.74 million. As of Sep 29, 2021, Blackrock Inc. held 4.97% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 4.38 million shares as of Sep 29, 2021. The firm’s total holdings are worth over $25.32 million and represent 1.56% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and Vanguard Extended Market Index Fund. As of Oct 30, 2021, the former fund manager holds about 1.81% shares in the company for having 5.08 million shares of worth $23.89 million while later fund manager owns 3.16 million shares of worth $18.28 million as of Sep 29, 2021, which makes it owner of about 1.12% of company’s outstanding stock.