Meta Materials’ (MMAT) “Buy” Rating Reiterated at Cormark

Cormark reiterated their buy rating on shares of Meta Materials (NASDAQ:MMATGet Rating) in a research report released on Monday, Stock Target Advisor reports. They currently have a $3.75 price objective on the stock.

Meta Materials Price Performance

Shares of MMAT opened at 1.84 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.28 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of 1.11 and a 200 day simple moving average of 1.16. Meta Materials has a 52-week low of 0.63 and a 52-week high of 4.27.

Meta Materials (NASDAQ:MMATGet Rating) last released its earnings results on Wednesday, November 9th. The company reported -0.07 EPS for the quarter, missing the consensus estimate of -0.05 by -0.02. The firm had revenue of 2.46 million during the quarter, compared to the consensus estimate of 3.45 million. Meta Materials had a negative net margin of 845.99% and a negative return on equity of 25.59%. On average, sell-side analysts forecast that Meta Materials will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Meta Materials

Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd lifted its stake in Meta Materials by 261.7% in the 3rd quarter. Point72 Hong Kong Ltd now owns 39,961 shares of the company’s stock valued at $26,000 after acquiring an additional 28,913 shares in the last quarter. HighTower Advisors LLC bought a new stake in Meta Materials in the 1st quarter valued at approximately $27,000. Teacher Retirement System of Texas lifted its stake in Meta Materials by 43.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 43,484 shares of the company’s stock valued at $28,000 after acquiring an additional 13,272 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Meta Materials during the 2nd quarter worth approximately $31,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Meta Materials during the 2nd quarter worth approximately $35,000. Institutional investors 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.

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