The Vanguard Group, Inc. recently announced the acquisition of new stake in Meta Materials Inc (NASDAQ:MMAT). The institutional investor has increased its shareholding in the Technology company by 20.56% to 5.34 million shares with purchase of 0.91 million shares. This fresh investment now brings its stake to 1.09% valued currently at $0.5 million. In addition, Northern Trust Investments, Inc. raised its holdings by 75426.0 to 0.73 million shares.
Currently, there are 490.42M common shares owned by the public and among those 411.51M shares have been available to trade.
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The top 3 mutual fund holders in Meta Materials Inc are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Total Market Index Fund. Vanguard Extended Market Index Fu owns 5.34 million shares of the company’s stock, all valued at over $0.5 million. Fidelity Extended Market Index Fu sold -0.18 million shares to see its total holdings shrink to 1.74 million shares valued at over $0.16 million and representing 0.35% of the shares outstanding. Fidelity Total Market Index Fund now owns shares totaling to 0.12% of the shares outstanding.
However, the script later moved the day high at 0.0753, down -2.82%. The company’s stock has a 5-day price change of 4.02% and -64.30% over the past three months. MMAT shares are trading -93.91% year to date (YTD), with the 12-month market performance down to -94.71% lower. It has a 12-month low price of $0.04 and touched a high of $1.42 over the same period. MMAT has an average intraday trading volume of 8.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.10%, -39.87%, and -68.66% respectively.
Institutional ownership of Meta Materials Inc (NASDAQ: MMAT) shares accounts for 4.73% of the company’s 490.42M shares outstanding. Mutual fund holders own 12.95%, while other institutional holders and individual stakeholders account for 2.78% and 1.94% respectively.
It has a market capitalization of $35.56M and a beta (3y monthly) value of 1.98. The earnings-per-share (ttm) stands at -$0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.12% over the week and 14.84% over the month.
