Meta Materials (NASDAQ:MMAT) Stock Price Down 7.5%

Meta Materials Inc. (NASDAQ:MMAT)’s stock price was down 7.5% on Thursday . The company traded as low as $2.72 and last traded at $2.83. Approximately 769,769 shares were traded during trading, a decline of 3% from the average daily volume of 790,434 shares. The stock had previously closed at $3.06.

Meta Materials Trading Up 15.2 %

The company’s fifty day simple moving average is $2.86 and its 200-day simple moving average is $1.72. The company has a current ratio of 0.58, a quick ratio of 0.57 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Meta Materials

A hedge fund recently bought a new stake in Meta Materials stock. BNP Paribas Financial Markets acquired a new position in shares of Meta Materials Inc. (NASDAQ:MMAT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,487 shares of the company’s stock, valued at approximately $32,000. BNP Paribas Financial Markets owned about 0.17% of Meta Materials at the end of the most recent quarter. Institutional investors own 6.47% of the company’s stock.

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.