Meta Materials (NASDAQ:MMAT) Shares Gap Up to $1.66

Meta Materials Inc. (NASDAQ:MMATGet Rating) shares gapped up prior to trading on Monday . The stock had previously closed at 1.66, but opened at 2.06. Meta Materials shares last traded at 1.95, with a volume of 258,676 shares traded.

Analyst Upgrades and Downgrades

Separately, Cormark reaffirmed a “buy” rating and set a $3.75 price objective on shares of Meta Materials in a report on Monday.

Meta Materials Stock Performance

The firm has a fifty day simple moving average of 1.04 and a 200-day simple moving average of 1.14. The company has a current ratio of 1.29, a quick ratio of 1.28 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its position in shares of Meta Materials by 71.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 144,736 shares of the company’s stock valued at $241,000 after acquiring an additional 60,322 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Meta Materials by 193.8% during the 1st quarter. New York State Common Retirement Fund now owns 496,591 shares of the company’s stock valued at $829,000 after acquiring an additional 327,585 shares during the last quarter. Swiss National Bank raised its position in shares of Meta Materials by 8.0% during the 1st quarter. Swiss National Bank now owns 465,500 shares of the company’s stock valued at $777,000 after acquiring an additional 34,600 shares during the last quarter. Ground Swell Capital LLC bought a new stake in shares of Meta Materials during the 1st quarter valued at $52,000. Finally, GMT Capital Corp bought a new stake in shares of Meta Materials during the 1st quarter valued at $908,000. Institutional investors and hedge funds own 14.12% of the company’s stock.

About Meta Materials

(Get Rating)

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.

Further Reading

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