Matterport (NASDAQ:MTTR) Hits New 12-Month Low at $1.73

Matterport, Inc. (NASDAQ:MTTRGet Free Report)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $1.73 and last traded at $1.77, with a volume of 233238 shares trading hands. The stock had previously closed at $1.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MTTR. BTIG Research began coverage on Matterport in a research note on Friday, January 19th. They issued a “neutral” rating for the company. Wedbush dropped their price objective on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Northland Securities began coverage on Matterport in a research note on Thursday, April 11th. They issued an “outperform” rating and a $3.50 price objective for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Matterport in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.40.

Get Our Latest Report on Matterport

Matterport Stock Performance

The stock has a market capitalization of $540.98 million, a price-to-earnings ratio of -2.64 and a beta of 1.73. The company has a 50 day moving average of $2.04 and a 200 day moving average of $2.28.

Matterport (NASDAQ:MTTRGet Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. The firm had revenue of $39.55 million during the quarter, compared to analysts’ expectations of $40.11 million. As a group, research analysts expect that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Matterport news, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Matterport news, CFO James Daniel Fay sold 25,000 shares of Matterport stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,404,944 shares of the company’s stock, valued at approximately $3,175,173.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raymond J. Pittman sold 69,539 shares of Matterport stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $1.94, for a total value of $134,905.66. Following the sale, the chief executive officer now directly owns 3,231,873 shares of the company’s stock, valued at $6,269,833.62. The disclosure for this sale can be found here. Insiders sold 437,909 shares of company stock valued at $884,072 in the last three months. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of Matterport

A number of institutional investors have recently bought and sold shares of MTTR. Barclays PLC lifted its holdings in shares of Matterport by 21.0% in the 3rd quarter. Barclays PLC now owns 120,020 shares of the company’s stock valued at $260,000 after purchasing an additional 20,824 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Matterport by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,383,072 shares of the company’s stock valued at $50,741,000 after purchasing an additional 306,958 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Matterport by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,864,667 shares of the company’s stock valued at $4,046,000 after purchasing an additional 90,581 shares during the last quarter. 180 Wealth Advisors LLC purchased a new stake in shares of Matterport in the 3rd quarter valued at about $27,000. Finally, Dark Forest Capital Management LP purchased a new stake in Matterport during the 3rd quarter valued at approximately $291,000. 36.96% of the stock is owned by hedge funds and other institutional investors.

About Matterport

(Get Free Report)

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.

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