Meta Materials Inc. (NASDAQ:MMAT) Short Interest Up 21.9% in May

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. Currently, 13.3% of the shares of the company are sold short. Based on an average daily volume of 1,070,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On Meta Materials

An institutional investor recently bought a new position in Meta Materials stock. BNP Paribas Financial Markets bought a new stake in Meta Materials Inc. (NASDAQ:MMAT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,487 shares of the company’s stock, valued at approximately $32,000. BNP Paribas Financial Markets owned about 0.17% of Meta Materials as of its most recent SEC filing. Hedge funds and other institutional investors own 6.47% of the company’s stock.

Meta Materials Trading Up 1.0 %

MMAT stock traded up $0.03 during midday trading on Monday, hitting $3.17. 87,691 shares of the company traded hands, compared to its average volume of 727,960. Meta Materials has a twelve month low of $1.80 and a twelve month 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. The business has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $2.10.

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

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.