Meta Materials Inc. (MMAT) 20 Days SMA touches 2.73%: The odds favor the bear

Meta Materials Inc. (NASDAQ: MMAT) kicked off on June 21, 2022, at the price of $1.52, up 19.18% from the previous trading day. During the day, the shares moved up to $1.82 and dropped to $1.50 before settling in for the closing price of $1.46. Over the past 52 weeks, MMAT has traded in a range of $1.03-$21.76.

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During the last 5-year period, the sales growth of Technology Sector giant was 63.00%. While this was happening, its average annual earnings per share was recorded -38.70%. With a float of $203.50 million, this company’s outstanding shares have now reached $285.23 million.

Let’s determine the extent of company efficiency that accounts for 130 employees.

Meta Materials Inc. (MMAT) Insider Activity

Our next focus will be how large-scale investors are participating in this stock of the Electronic Components Industry. The insider ownership of Meta Materials Inc. is 2.30%, while institutional ownership is 21.70%. The most recent insider transaction that took place on May 17, was worth 25,048. In this transaction Director of this company bought 15,000 shares at a rate of $1.67, taking the stock ownership to the 15,000 shares. Before that another transaction happened on Nov 30, when Company’s 10% Owner sold 7,000 for $3.54, making the entire transaction worth $24,780. This insider now owns 341,000 shares in total.

Meta Materials Inc. (MMAT) Earnings and Forecasts

In the latest quarterly report, which was put into the public domain on 12/30/2021, the organization reported -$0.13 earnings per share (EPS), lower than consensus estimate (set at -$0.01) by -$0.12. Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.02 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around -38.70% per share during the next fiscal year.

Meta Materials Inc. (NASDAQ: MMAT) Trading Performance Indicators

Take a look at Meta Materials Inc.’s (MMAT) current performance indicators. Last quarter, stock had a quick ratio of 1.30. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 82.14.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -0.23, a number that is poised to hit -0.03 in the next quarter and is forecasted to reach -0.06 in one year’s time.

Technical Analysis of Meta Materials Inc. (MMAT)

Looking closely at Meta Materials Inc. (NASDAQ: MMAT), its last 5-days average volume was 5.95 million, which is a jump from its year-to-date volume of 5.1 million. As of the previous 9 days, the stock’s Stochastic %D was 45.99%. Additionally, its Average True Range was 0.16.

During the past 100 days, Meta Materials Inc.’s (MMAT) raw stochastic average was set at 61.21%, which indicates a significant increase from 55.71% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 95.53% in the past 14 days, which was lower than the 105.82% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $1.5039, while its 200-day Moving Average is $2.8206. However, in the short run, Meta Materials Inc.’s stock first resistance to watch stands at $1.8733. Second resistance stands at $2.0067. The third major resistance level sits at $2.1933. If the price goes on to break the first support level at $1.5533, it is likely to go to the next support level at $1.3667. Should the price break the second support level, the third support level stands at $1.2333.

Meta Materials Inc. (NASDAQ: MMAT) Key Stats

The company with the Market Capitalisation of 533.92 million has total of 296,693K Shares Outstanding. Its annual sales at the moment are 4,080 K in contrast with the sum of -91,000 K annual income. Company’s last quarter sales were recorded 2,970 K and last quarter income was -18,430 K.


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