Meta Materials (NASDAQ:MMAT) Shares Gap Down to $2.16

Shares of Meta Materials Inc. (NASDAQ:MMATGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at 2.16, but opened at 2.02. Meta Materials shares last traded at 2.04, with a volume of 158,223 shares.

Analysts Set New Price Targets

Separately, Cormark reiterated a “buy” rating and issued a $3.75 target price on shares of Meta Materials in a research note on Monday.

Meta Materials Trading Down 9.4 %

The company has a market cap of $665.20 million, a price-to-earnings ratio of -6.15 and a beta of 1.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.29 and a quick ratio of 1.28. The business’s fifty day moving average price is 1.07 and its 200 day moving average price is 1.15.

Institutional Investors Weigh In On Meta Materials

Several large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its stake in Meta Materials by 71.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 144,736 shares of the company’s stock worth $241,000 after purchasing an additional 60,322 shares during the period. New York State Common Retirement Fund boosted its position in shares of Meta Materials by 193.8% during the first quarter. New York State Common Retirement Fund now owns 496,591 shares of the company’s stock valued at $829,000 after purchasing an additional 327,585 shares in the last quarter. Swiss National Bank boosted its position in shares of Meta Materials by 8.0% during the first quarter. Swiss National Bank now owns 465,500 shares of the company’s stock valued at $777,000 after purchasing an additional 34,600 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of Meta Materials during the first quarter valued at approximately $52,000. Finally, GMT Capital Corp bought a new stake in shares of Meta Materials during the first quarter valued at approximately $908,000. 14.12% of the stock is owned by hedge funds and other institutional investors.

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.

Read More

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