Meta Materials - MMAT Stock Forecast, Price & News

Meta Materials Inc. invents, designs, develops, and manufactures various functional materials and nanocomposites. Its products include metaAIR, a laser glare protection eyewear; NANOWEB, a transparent conductive film; holoOPTIX, a holographic optical element; glucoWISE, a non-invasive glucose measurement device; and metaSURFACE, which allows an enhancement in signal to noise ratio of up to 40 times for magnetic resonance imaging scans. The company also develops and produces nano-optic structures and color-shifting foils that are used in authentication and brand protection applications in various markets, including banknotes, secure government documents, and commercial branding, as well as engages in the research, development, and manufacture of smart materials. Its customers are OEM providers in various industries, including aerospace, automotive, consumer electronics, communications, energy, banknote and brand security, and medical devices. The company was formerly known as Torchlight Energy Resources, Inc. and changed its name to Meta Materials Inc. in June 2021. Meta Materials Inc. was incorporated in 2007 and is headquartered in Dartmouth, Canada.

Analysts Set New Price Targets

Separately, Roth Capital reaffirmed a "buy" rating on shares of Meta Materials in a research report on Tuesday, May 3rd.

Meta Materials Trading Down 1.1 %

Shares of MMAT Stock traded down 0.01 during mid-day trading on Friday, hitting 0.91. The company's stock had a trading volume of 2,475,200 shares, compared to its average volume of 3,930,777. Meta Materials has a 52 week low of 0.88 and a 52 week high of 6.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.28 and a current ratio of 1.29. The company's fifty day simple moving average is 1.25 and its 200-day simple moving average is 1.49. The company has a market cap of $328.37 million, a PE ratio of -3.50 and a beta of 1.52.

Meta Materials (NASDAQ:MMAT - Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported -0.06 EPS for the quarter, missing the consensus estimate of -0.03 by -0.03. The business had revenue of 2.97 million during the quarter, compared to the consensus estimate of 2.40 million. Meta Materials had a negative net margin of 999.55% and a negative return on equity of 18.65%. As a group, equities research analysts expect that Meta Materials will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Materials

In other Meta Materials news, Director Allison Christilaw acquired 15,000 shares of the company's stock in a transaction dated Tuesday, May 17th. The shares were acquired at an average cost of 1.67 per share, with a total value of 25,050.00. Following the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at 25,050. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Allison Christilaw acquired 15,000 shares of the business's stock in a transaction that occurred on Tuesday, May 17th. The stock was purchased at an average cost of 1.67 per share, for a total transaction of 25,050.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at 25,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Thomas Gordon Welch acquired 35,000 shares of the stock in a transaction dated Friday, June 24th. The stock was acquired at an average cost of 1.30 per share, with a total value of 45,500.00. Following the purchase, the insider now owns 1,948,242 shares of the company's stock, valued at approximately 2,532,714.60. The disclosure for this purchase can be found here. 17.49% of the stock is currently owned by company insiders.