The trading price of Meta Materials Inc (NASDAQ:MMAT) closed higher on Monday, April 01, closing at $4.02, 30.94% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $53.42 and a 52-week low of $1.80. Over the past month, the stock has gained 35.35% in value.
Meta Materials Inc, whose market valuation is $25.81 million at the time of this writing, is expected to release its quarterly earnings report May 10, 2024 – May 14, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$3 per share this quarter, however they have predicted annual earnings per share of $0 for 2023 and -$7 for 2024.
Analysts have forecast the company to bring in revenue of $1.7 million for the current quarter, with the likely lows of $3.1 million and highs of $3.1 million. The average estimate suggests sales will likely up by 17.40% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $7.34 million. The company’s revenue is forecast to drop by -28.00% over what it did in 2023.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Meta Materials Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest MMAT has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
A quick review shows that MMAT’s price is currently 70.38% off the SMA20 and 14.88% off the SMA50. The RSI metric on the 14-day chart is currently showing 67.28, and weekly volatility stands at 24.40%. When measured over the past 30 days, the indicator reaches 13.87%. Meta Materials Inc (NASDAQ:MMAT)’s beta value is currently sitting at 1.54, while the Average True Range indicator is currently displaying 0.44.
To see how Meta Materials Inc stock has been performing in comparison to its peers in the industry, here are the numbers: MMAT stock’s performance was 30.94% in the latest trading, and -90.62% in the past year.
An evaluation of the daily trading volume of Meta Materials Inc (NASDAQ:MMAT) indicates that the 3-month average is 304.67K. However, this figure has increased over the past 10 days to an average of 0.33 million.
Currently, records show that 6.42 million of the company’s shares remain outstanding. The insiders hold 5.42% of outstanding shares, whereas institutions hold 6.77%. The stats also highlight that short interest as of Mar 15, 2024, stood at 0.68 million shares, resulting in a short ratio of 2.68 at that time. From this, we can conclude that short interest is 10.62% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 0.71 million. However, since the stock’s price has seen -39.09% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
