Meta Materials Inc.’s recently made public that its CEO and President Palikaras Georgios acquired Company’s shares for reported $22660.0 on Aug 16. In the deal valued at $0.23 per share,100,000 shares were bought. As a result of this transaction, Palikaras Georgios now holds 1,385,490 shares worth roughly $ 0.33 million.
Then, RICE KENNETH L JR sold 18,454 shares, generating $11,626 in total proceeds. Upon selling the shares at $0.63, the insider now owns 21,103 shares.
Before that, Waldern Jonathan sold 17,372 shares. Meta Materials Inc. shares valued at $10,944 were divested by the Chief Technology Officer at a price of $0.63 per share. As a result of the transaction, Waldern Jonathan now holds 14,274 shares, worth roughly $3425.7599999999998.
Price Performance Review of MMAT
On Friday, Meta Materials Inc. [NASDAQ:MMAT] saw its stock jump 5.73% to $0.24. On the same session, the stock had its day’s lowest price of $0.23, but rose to a high of $0.245. Over the last five days, the stock has gained 6.38%. Meta Materials Inc. shares have fallen nearly -79.55% since the year began. Nevertheless, the stocks have fallen -71.86% over the past one year. While a 52-week high of $2.34 was reached on 01/09/23, a 52-week low of $0.17 was recorded on 06/27/23. SMA at 50 days reached $0.2187, while 200 days put it at $0.6183. A total of 2.93 million shares were traded, compared to the trading of 2.37 million shares in the previous session.
Levels Of Support And Resistance For MMAT Stock
The 24-hour chart illustrates a support level at 0.2339, which if violated will result in even more drops to 0.2245. On the upside, there is a resistance level at 0.2489. A further resistance level may holdings at 0.2545. The Relative Strength Index (RSI) on the 14-day chart is 57.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0097, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 4.57%. Stochastics %K at 73.43% indicates the stock is a holding.
How much short interest is there in Meta Materials Inc.?
A steep rise in short interest was recorded in Meta Materials Inc. stocks on Aug 14, 2023, dropping by -2.74 million shares to a total of 48.36 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 51.1 million shares. There was a decline of -5.67%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.84% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.1.
Meta Materials Inc. [MMAT] – Who Are The Largest Shareholders?
In filings from Alyeska Investment Group LP, it is revealed that the company now owns 6,000,000 shares, or roughly 1.28% of the outstanding MMAT shares. Additionally, BlackRock Fund Advisors decreased -9.99% of its stake after which the total value it holdings stand at $1,351,507, while Geode Capital Management LLC added 30.94% of its stake to hold $1.13 million in the firm. Over the last quarter, The Vanguard Group, Inc. sold -59,031 shares of Meta Materials Inc., while Susquehanna Financial Group LLLP sold 1,514,774 shares. At present, SSgA Funds Management, Inc. is holding 1,230,992 shares valued at $0.31 million. Two Sigma Investments LP owned 1,085,043 shares of the company at the time of its most recent 13F filing, worth $0.27 million.
According to FactSet, Meta Materials Inc.’s share price will average $1.35 in the next year, based on opinions of analysts polled by the firm. This is up nearly 486.96 percent from its previous closing price of $0.23. Analysts expect Meta Materials Inc. stock to reach the higher price of $1.50, while the lowest price estimate is $1.20. However, 2 analysts have rated MMAT stock as an Overweight in their predictions for 2023.