Matterport (NASDAQ:MTTR) Reaches New 52-Week High – Time to Buy?

Matterport, Inc. (NASDAQ:MTTR)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.25 and last traded at $5.25, with a volume of 1088112 shares traded. The stock had previously closed at $5.21.

Matterport Stock Up 0.6 %

The firm’s 50-day moving average is $4.92 and its 200-day moving average is $4.65. The company has a market capitalization of $1.69 billion, a PE ratio of -6.31 and a beta of 1.06.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Matterport had a negative net margin of 157.21% and a negative return on equity of 32.19%. The business had revenue of $43.79 million during the quarter, compared to analyst estimates of $43.91 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Matterport, Inc. will post -0.44 EPS for the current year.

Insider Transactions at Matterport

In other news, CEO Raymond J. Pittman sold 358,607 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.73, for a total transaction of $1,696,211.11. Following the completion of the sale, the chief executive officer now directly owns 4,176,241 shares in the company, valued at approximately $19,753,619.93. This represents a 7.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James Daniel Fay sold 119,312 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $564,345.76. Following the sale, the chief financial officer now owns 1,690,458 shares of the company’s stock, valued at approximately $7,995,866.34. This represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 645,163 shares of company stock worth $3,051,621. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Matterport

A number of institutional investors have recently bought and sold shares of MTTR. Renaissance Technologies LLC raised its stake in Matterport by 39.0% in the second quarter. Renaissance Technologies LLC now owns 189,811 shares of the company’s stock worth $848,000 after buying an additional 53,300 shares in the last quarter. Millennium Management LLC boosted its holdings in Matterport by 142.3% in the second quarter. Millennium Management LLC now owns 3,021,453 shares of the company’s stock worth $13,506,000 after purchasing an additional 1,774,442 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Matterport by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 103,824 shares of the company’s stock worth $464,000 after purchasing an additional 2,550 shares during the last quarter. Algert Global LLC purchased a new stake in Matterport in the second quarter worth approximately $655,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Matterport in the second quarter worth approximately $3,142,000. 36.96% of the stock is owned by institutional investors.

Matterport Company Profile

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.