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

Shares of Matterport, Inc. (NASDAQ:MTTR) hit a new 52-week low 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MTTR. Piper Sandler reissued a “neutral” rating and issued a $3.00 price objective on shares of Matterport in a research note on Wednesday, February 21st. Wedbush dropped their price target on Matterport from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. BTIG Research began coverage on Matterport in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. Finally, Northland Securities began coverage on Matterport in a research report on Thursday, April 11th. They issued an “outperform” rating and a $3.50 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.40.

Matterport Trading Up 0.3 %

The company has a fifty day moving average price of $2.05 and a two-hundred day moving average price of $2.28. The company has a market cap of $545.65 million, a price-to-earnings ratio of -2.65 and a beta of 1.73.

Matterport (NASDAQ:MTTR) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $39.55 million for the quarter, compared to analyst estimates of $40.11 million. Matterport had a negative return on equity of 36.35% and a negative net margin of 126.20%. Sell-side analysts anticipate that Matterport, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Matthew Zinn sold 58,142 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $2.02, for a total transaction of $117,446.84. Following the completion of the sale, the insider now owns 396,121 shares in the company, valued at $800,164.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO James Daniel Fay sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $2.26, for a total value of $56,500.00. Following the completion of the sale, the chief financial officer now owns 1,404,944 shares in the company, valued at $3,175,173.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Zinn sold 58,142 shares of the company’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 $117,446.84. Following the completion of the sale, the insider now owns 396,121 shares of the company’s stock, valued at approximately $800,164.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 437,909 shares of company stock valued at $884,072. 16.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matterport

Several large investors have recently modified their holdings of MTTR. 180 Wealth Advisors LLC acquired a new position in shares of Matterport during the third quarter worth about $27,000. Droms Strauss Advisors Inc. MO ADV acquired a new position in Matterport during the fourth quarter valued at approximately $27,000. Apollon Wealth Management LLC acquired a new position in Matterport during the fourth quarter valued at approximately $28,000. Arete Wealth Advisors LLC acquired a new position in Matterport during the first quarter valued at approximately $30,000. Finally, Private Advisor Group LLC acquired a new position in Matterport during the fourth quarter valued at approximately $31,000. 36.96% of the stock is currently owned by 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.