Matterport (NASDAQ:MTTR) Shares Gap Up to $1.80

Shares of Matterport, Inc. (NASDAQ:MTTR) gapped up before the market opened on Tuesday . The stock had previously closed at $1.80, but opened at $1.86. Matterport shares last traded at $1.84, with a volume of 241,204 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BTIG Research assumed coverage on Matterport in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Wedbush dropped their target price on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Matterport in a research report on Wednesday, February 21st.

Matterport Stock Up 7.7 %

The company has a 50-day simple moving average of $2.15 and a two-hundred day simple moving average of $2.31.

Matterport (NASDAQ:MTTR) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. Equities analysts anticipate that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $2.63, for a total transaction of $65,750.00. Following the completion of the transaction, the chief financial officer now owns 1,212,379 shares of the company’s stock, valued at $3,188,556.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $2.63, for a total transaction of $65,750.00. Following the completion of the transaction, the chief financial officer now owns 1,212,379 shares of the company’s stock, valued at $3,188,556.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jay Remley sold 13,261 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $1.94, for a total value of $25,726.34. Following the transaction, the executive now directly owns 1,038,563 shares of the company’s stock, valued at approximately $2,014,812.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 437,909 shares of company stock valued at $893,572. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. 180 Wealth Advisors LLC acquired a new position in shares of Matterport in the 3rd quarter valued at $27,000. Droms Strauss Advisors Inc. MO ADV acquired a new position in shares of Matterport in the 4th quarter valued at $27,000. Apollon Wealth Management LLC acquired a new position in shares of Matterport in the 4th quarter valued at $28,000. Arete Wealth Advisors LLC acquired a new position in shares of Matterport in the 1st quarter valued at $30,000. Finally, Private Advisor Group LLC acquired a new position in shares of Matterport in the 4th quarter valued at $31,000. Institutional investors own 36.96% of the company’s stock.

Matterport Company Profile

Matterport, Inc, a spatial data company, focuses on digitization and datafication in the United States and internationally. The company offers Matterport Capture Services, a fully managed solution for enterprise subscribers; Matterport Pro3, a 3D camera that scans properties; Matterport Pro2, a 3D camera that captures spaces; LEICA BLK360, a device to create digital twins; Smartphone Capture, a smartphone capture solution for both iOS and Android; and 360 Cameras.