Matterport, Inc. (NASDAQ:MTTR) Short Interest Down 22.8% in April

Matterport, Inc. (NASDAQ:MTTR - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 6,930,000 shares, a decline of 22.8% from the April 15th total of 8,980,000 shares. Based on an average trading volume of 4,640,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.6% of the company's stock are short sold.

Insider Transactions at Matterport

In related news, CEO Raymond J. Pittman sold 69,539 shares of Matterport stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $134,905.66. Following the completion of the sale, the chief executive officer now owns 3,231,873 shares of the company's stock, valued at approximately $6,269,833.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Raymond J. Pittman sold 72,096 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the sale, the chief executive officer now owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond J. Pittman sold 69,539 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $134,905.66. Following the completion of the transaction, the chief executive officer now owns 3,231,873 shares in the company, valued at approximately $6,269,833.62. The disclosure for this sale can be found here. Insiders have sold 437,909 shares of company stock valued at $942,572 over the last ninety days. 17.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. G2 Investment Partners Management LLC raised its position in shares of Matterport by 136.7% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company's stock worth $3,757,000 after purchasing an additional 806,528 shares during the last quarter. Vanguard Group Inc. lifted its position in Matterport by 2.2% during the first quarter. Vanguard Group Inc. now owns 24,406,900 shares of the company's stock valued at $55,160,000 after purchasing an additional 520,490 shares during the period. IMC Chicago LLC bought a new stake in shares of Matterport in the first quarter worth $465,000. GSA Capital Partners LLP increased its position in Matterport by 85.3% during the first quarter. GSA Capital Partners LLP now owns 389,185 shares of the company's stock valued at $880,000 after acquiring an additional 179,174 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Matterport by 132.0% in the third quarter. Commonwealth Equity Services LLC now owns 272,367 shares of the company's stock valued at $591,000 after acquiring an additional 154,961 shares during the period. Hedge funds and other institutional investors own 36.96% of the company's stock.

Matterport Trading Down 1.6 %

MTTR stock traded down $0.07 during midday trading on Friday, hitting $4.42. The company had a trading volume of 2,053,916 shares, compared to its average volume of 8,381,682. The stock's 50 day moving average price is $2.73 and its 200 day moving average price is $2.54. Matterport has a 52 week low of $1.73 and a 52 week high of $4.99. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -7.37 and a beta of 1.11.

Matterport (NASDAQ:MTTR - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative return on equity of 33.59% and a negative net margin of 113.62%. Analysts predict that Matterport will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on MTTR shares. BTIG Research began coverage on Matterport in a research note on Friday, January 19th. They issued a "neutral" rating for the company. Northland Securities reiterated a "market perform" rating and set a $5.50 price target on shares of Matterport in a research note on Tuesday, April 23rd. Wedbush decreased their price objective on shares of Matterport from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Thursday, February 22nd. Loop Capital reiterated a "hold" rating and issued a $5.50 target price (up from $5.00) on shares of Matterport in a research report on Tuesday, April 23rd. Finally, Piper Sandler raised their price target on Matterport from $3.00 to $5.50 and gave the company a "neutral" rating in a research report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $4.50.

Matterport Company Profile

Matterport, Inc, a spatial data company, focuses on digitization and datafication in the United States and internationally. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; LEICA BLK360, a device to create digital twins; Smartphone Capture, a smartphone capture solution for both iOS and Android; and 360 Cameras.