Ergoteles LLC lessened its position in Meta Materials Inc. (NASDAQ:MMAT – Get Rating) by 78.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 236,183 shares of the company’s stock after selling 876,717 shares during the period. Ergoteles LLC owned approximately 0.07% of Meta Materials worth $153,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of MMAT. State Street Corp increased its holdings in shares of Meta Materials by 37.1% in the 1st quarter. State Street Corp now owns 24,112,960 shares of the company’s stock worth $40,269,000 after acquiring an additional 6,528,198 shares during the period. Millennium Management LLC increased its holdings in shares of Meta Materials by 21,845.4% in the 2nd quarter. Millennium Management LLC now owns 5,488,318 shares of the company’s stock worth $5,653,000 after acquiring an additional 5,463,309 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Meta Materials by 735.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 595,360 shares of the company’s stock worth $613,000 after acquiring an additional 524,135 shares during the period. Bank of Montreal Can increased its holdings in shares of Meta Materials by 328.4% in the 2nd quarter. Bank of Montreal Can now owns 638,020 shares of the company’s stock worth $1,231,000 after acquiring an additional 489,100 shares during the period. Finally, Cibc World Market Inc. acquired a new stake in shares of Meta Materials in the 1st quarter worth about $481,000. Institutional investors and hedge funds own 9.72% of the company’s stock.
Meta Materials Stock Performance
Shares of MMAT opened at $0.56 on Wednesday. The firm has a 50-day moving average price of $0.91 and a 200 day moving average price of $1.07. The firm has a market capitalization of $203.77 million, a PE ratio of -1.70 and a beta of 2.17. The company has a quick ratio of 1.28, a current ratio of 1.29 and a debt-to-equity ratio of 0.01. Meta Materials Inc. has a 52-week low of $0.56 and a 52-week high of $2.34.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on MMAT shares. Alliance Global Partners started coverage on shares of Meta Materials in a research report on Friday, February 17th. They issued a “buy” rating for the company. Cormark reiterated a “buy” rating and issued a $3.75 target price on shares of Meta Materials in a research report on Monday, November 21st.
Meta Materials Company Profile
Meta Materials, Inc engages in the manufacture and development of functional materials. Its technology platform enables global brands to deliver products to customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. The company was founded by George Palikaras and Themos Kallos on August 15, 2011 and is headquartered in Dartmouth, Canada.
