Matterport, Inc. (NASDAQ:MTTR – Get 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:MTTR – Get 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
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.
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.
- Get a free copy of the StockNews.com research report on Matterport (MTTR)
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