Short Interest in Matterport, Inc. (NASDAQ:MTTR) Drops By 10.0%

Matterport, Inc. (NASDAQ:MTTRGet Rating) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 30,190,000 shares, a decrease of 10.0% from the August 15th total of 33,540,000 shares. Based on an average daily volume of 5,550,000 shares, the short-interest ratio is currently 5.4 days. Approximately 13.4% of the shares of the company are sold short.

Matterport Stock Down 1.2 %

MTTR opened at $4.05 on Monday. The firm has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $5.42. Matterport has a 52 week low of $3.51 and a 52 week high of $37.60. The company has a market capitalization of $1.14 billion, a PE ratio of -2.66 and a beta of 1.81.

Matterport (NASDAQ:MTTRGet Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. Matterport had a negative net margin of 287.93% and a negative return on equity of 44.99%. The firm had revenue of $28.48 million during the quarter, compared to the consensus estimate of $30.37 million. During the same quarter last year, the firm earned ($0.62) EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Matterport will post -1.03 earnings per share for the current year.

Insider Transactions at Matterport

In other news, Director Jason Krikorian sold 867,094 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $4.66, for a total value of $4,040,658.04. Following the completion of the sale, the director now directly owns 18,562,912 shares in the company, valued at approximately $86,503,169.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jason Krikorian sold 867,094 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $4.66, for a total value of $4,040,658.04. Following the completion of the sale, the director now directly owns 18,562,912 shares in the company, valued at approximately $86,503,169.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Japjit Tulsi sold 50,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $4.61, for a total value of $230,500.00. Following the completion of the sale, the chief technology officer now owns 295,571 shares of the company’s stock, valued at $1,362,582.31. The disclosure for this sale can be found here. Insiders sold 1,711,653 shares of company stock worth $7,790,456 in the last three months. Corporate insiders own 24.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. DCM International VI Ltd. bought a new stake in Matterport in the fourth quarter worth about $409,870,000. Vanguard Group Inc. lifted its stake in Matterport by 171.4% in the first quarter. Vanguard Group Inc. now owns 11,882,193 shares of the company’s stock worth $96,483,000 after purchasing an additional 7,504,573 shares during the last quarter. Wafra Inc. bought a new stake in Matterport in the fourth quarter worth about $102,274,000. State Street Corp lifted its stake in Matterport by 460.3% in the second quarter. State Street Corp now owns 4,559,685 shares of the company’s stock worth $16,688,000 after purchasing an additional 3,745,958 shares during the last quarter. Finally, Banque Pictet & Cie SA lifted its stake in Matterport by 404.0% in the second quarter. Banque Pictet & Cie SA now owns 2,520,000 shares of the company’s stock worth $9,223,000 after purchasing an additional 2,020,000 shares during the last quarter. Institutional investors own 38.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MTTR shares. Piper Sandler increased their price target on Matterport from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Morgan Stanley increased their price target on Matterport from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Friday, August 12th. Finally, Wolfe Research assumed coverage on shares of Matterport in a report on Tuesday, August 16th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.83.

About Matterport

(Get Rating)

Matterport, Inc, a spatial data company, focuses on digitization and datafication of the built world. It offers Matterport digital twins, a 3D data platform to design, build, operate, promote, and understand spaces. The company offers Matterport Capture, an application that enables to capture depth, data, and imagery of a space using 3D cameras, 360 cameras, and iPhones; Matterport Workshop application to customize, add additional details, and share spaces; Matterport Showcase application for audience view and explore space in its final format; and Matterport VR to experience virtual reality.

Further Reading

Receive News & Ratings for Matterport Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matterport and related companies with MarketBeat.com's FREE daily email newsletter.