Meta Materials (NASDAQ:MMAT) Stock Price Up 3.2%

Meta Materials Inc. (NASDAQ:MMAT)’s stock price was up 3.2% during mid-day trading on Tuesday . The company traded as high as $0.39 and last traded at $0.38. Approximately 22,807 shares changed hands during trading, a decline of 96% from the average daily volume of 596,598 shares. The stock had previously closed at $0.37.

Meta Materials Trading Up 3.2 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.57 and a current ratio of 0.58. The firm has a 50-day simple moving average of $1.41 and a 200 day simple moving average of $2.40.

Hedge Funds Weigh In On Meta Materials

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

About Meta Materials

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.