Short Interest in Meta Materials Inc. (NASDAQ:MMAT) Expands By 21.9%

Meta Materials Inc. (NASDAQ:MMAT) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 885,200 shares, a growth of 21.9% from the May 15th total of 726,300 shares. Approximately 13.3% of the shares of the company are short sold. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is presently 0.8 days.

Meta Materials Stock Down 5.7 %

Shares of Meta Materials stock traded down $0.19 during trading on Friday, hitting $3.14. 188,739 shares of the company’s stock were exchanged, compared to its average volume of 2,593,664. The business has a 50-day simple moving average of $3.09 and a 200-day simple moving average of $2.10. Meta Materials has a 52-week low of $1.80 and a 52-week high of $27.50. The company has a current ratio of 0.58, a quick ratio of 0.57 and a debt-to-equity ratio of 0.16.

Meta Materials (NASDAQ:MMAT) last posted its earnings results on Monday, May 13th. The company reported ($1.17) EPS for the quarter. Meta Materials had a negative return on equity of 188.00% and a negative net margin of 3,939.25%. The company had revenue of $3.27 million for the quarter.

Institutional Investors Weigh In On Meta Materials

A hedge fund recently bought a new stake in Meta Materials stock. BNP Paribas Financial Markets purchased a new position in shares of Meta Materials Inc. (NASDAQ:MMAT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,487 shares of the company’s stock, valued at approximately $32,000. BNP Paribas Financial Markets owned approximately 0.17% of Meta Materials as of its most recent filing with the Securities and Exchange Commission (SEC). 6.47% of the stock is currently owned by institutional investors.

Meta Materials Company Profile

Meta Materials Inc manufactures and sells various functional materials and nanocomposites. The company products include metaAIR, a laser glare protection eyewear; NANOWEB, a transparent conductive film; holoOPTIX, a holographic optical component; and glucoWISE, a non-invasive glucose monitoring. It also develops and produces nano-optic structures and color-shifting foils that are used in authentication and brand protection applications in various markets, including banknotes, secure government documents, and commercial branding.