Matterport (NASDAQ:MTTR) Sees Unusually-High Trading Volume – Time to Buy?

Matterport, Inc. (NASDAQ:MTTR) shares saw unusually-high trading volume on Friday . Approximately 1,832,062 shares traded hands during trading, a decline of 20% from the previous session’s volume of 2,297,235 shares.The stock last traded at $4.72 and had previously closed at $4.96.

Matterport Stock Down 3.6 %

The business’s 50 day moving average is $4.80 and its two-hundred day moving average is $4.56. The firm has a market capitalization of $1.54 billion, a P/E ratio of -5.76 and a beta of 1.05.

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

Insider Activity

In other news, CTO Japjit Tulsi sold 85,015 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.73, for a total transaction of $402,120.95. Following the sale, the chief technology officer now directly owns 608,744 shares of the company’s stock, valued at $2,879,359.12. The trade was a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jay Remley sold 82,229 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.73, for a total value of $388,943.17. Following the sale, the executive now owns 1,408,626 shares in the company, valued at approximately $6,662,800.98. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 645,163 shares of company stock worth $3,051,621 over the last 90 days. 17.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Matterport by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,312,945 shares of the company’s stock worth $10,408,000 after acquiring an additional 288,544 shares during the period. Magnetar Financial LLC purchased a new position in Matterport during the second quarter valued at approximately $27,598,000. Alpine Associates Management Inc. increased its stake in Matterport by 57.2% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,045,682 shares of the company’s stock valued at $9,206,000 after buying an additional 744,582 shares during the period. Western Standard LLC purchased a new stake in Matterport in the 3rd quarter worth approximately $3,322,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Matterport during the 2nd quarter valued at $3,142,000. 36.96% of the stock is owned by hedge funds and other 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.