Matterport (NASDAQ:MTTR) Sets New 1-Year Low at $1.73

Matterport, Inc. (NASDAQ:MTTR)’s share price hit 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 changing hands. The stock had previously closed at $1.75.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BTIG Research assumed coverage on shares of Matterport in a report on Friday, January 19th. They issued a “neutral” rating on the stock. Wedbush cut their target price on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Matterport in a report on Wednesday, February 21st. Finally, Northland Securities assumed coverage on shares of Matterport in a report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 target price on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.40.

Matterport Trading Up 0.3 %

The company has a market capitalization of $545.65 million, a price-to-earnings ratio of -2.65 and a beta of 1.73. The firm’s 50 day simple moving average is $2.05 and its 200-day simple moving average is $2.28.

Matterport (NASDAQ:MTTR) last issued its earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate 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 net margin of 126.20% and a negative return on equity of 36.35%. As a group, sell-side analysts forecast that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Daniel Fay sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $2.26, for a total value of $56,500.00. Following the sale, the chief financial officer now directly owns 1,404,944 shares in the company, valued at approximately $3,175,173.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Raymond J. Pittman sold 72,096 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $2.02, for a total value of $145,633.92. Following the sale, the chief executive officer now directly owns 3,375,510 shares in the company, valued at approximately $6,818,530.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $2.26, for a total transaction of $56,500.00. Following the completion of the transaction, the chief financial officer now owns 1,404,944 shares in the company, valued at $3,175,173.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 437,909 shares of company stock worth $884,072. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTTR. ProShare Advisors LLC lifted its holdings in Matterport by 30.3% in the 1st quarter. ProShare Advisors LLC now owns 17,313 shares of the company’s stock valued at $140,000 after purchasing an additional 4,031 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Matterport by 117.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 70,653 shares of the company’s stock valued at $574,000 after purchasing an additional 38,222 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Matterport by 107.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 93,005 shares of the company’s stock valued at $755,000 after purchasing an additional 48,103 shares in the last quarter. Citigroup Inc. lifted its holdings in Matterport by 1,988.6% in the 1st quarter. Citigroup Inc. now owns 78,363 shares of the company’s stock valued at $636,000 after purchasing an additional 74,611 shares in the last quarter. Finally, Cibc World Market Inc. acquired a new position in shares of Matterport during the 1st quarter valued at about $123,000. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

About Matterport

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.