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 $0.35 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 409.41M 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 $0.35 million. Fidelity Total Market Index Fund now owns shares totaling to 0.12% of the shares outstanding.
The company’s stock has a 5-day price change of 23.58% and -61.67% over the past three months. MMAT shares are trading 15.15% year to date (YTD), with the 12-month market performance down to -92.62% lower. It has a 12-month low price of $0.04 and touched a high of $1.10 over the same period. MMAT has an average intraday trading volume of 14.80 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 12.25%, -2.28%, and -58.96% respectively.
Institutional ownership of Meta Materials Inc (NASDAQ: MMAT) shares accounts for 4.72% of the company’s 490.42M shares outstanding. Mutual fund holders own 12.97%, while other institutional holders and individual stakeholders account for 2.76% and 1.95% respectively.
It has a market capitalization of $37.27M and a beta (3y monthly) value of 1.68. 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 20.46% over the week and 9.31% over the month.
Analysts forecast that Meta Materials Inc (MMAT) will achieve an EPS of -$0.03 for the current quarter, -$0.02 for the next quarter and -$0.07 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.04 a year ago.
