Matterport, Inc. (NASDAQ:MTTR) Short Interest Down 21.8% in May

Matterport, Inc. (NASDAQ:MTTR) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 6,120,000 shares, a decrease of 21.8% from the May 15th total of 7,830,000 shares. Based on an average daily volume of 4,520,000 shares, the short-interest ratio is presently 1.4 days. Approximately 2.3% of the company’s shares are short sold.

Insider Buying and Selling at Matterport

In related news, CEO Raymond J. Pittman sold 209,180 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $4.41, for a total value of $922,483.80. Following the completion of the sale, the chief executive officer now owns 3,695,530 shares of the company’s stock, valued at $16,297,287.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO James Daniel Fay sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $4.60, for a total value of $115,000.00. Following the completion of the transaction, the chief financial officer now owns 1,507,482 shares in the company, valued at approximately $6,934,417.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Raymond J. Pittman sold 209,180 shares of Matterport stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total value of $922,483.80. Following the sale, the chief executive officer now owns 3,695,530 shares in the company, valued at $16,297,287.30. The disclosure for this sale can be found here. Insiders sold 475,645 shares of company stock valued at $2,048,344 in the last 90 days. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Matterport

Large investors have recently bought and sold shares of the business. Cetera Advisors LLC bought a new position in Matterport during the 1st quarter valued at about $44,000. Virtu Financial LLC raised its holdings in shares of Matterport by 31.9% during the first quarter. Virtu Financial LLC now owns 20,568 shares of the company’s stock valued at $46,000 after purchasing an additional 4,969 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Matterport during the first quarter valued at approximately $25,000. Janus Henderson Group PLC boosted its holdings in Matterport by 116.9% in the first quarter. Janus Henderson Group PLC now owns 208,743 shares of the company’s stock worth $473,000 after purchasing an additional 112,495 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Matterport by 41.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 249,592 shares of the company’s stock worth $565,000 after purchasing an additional 73,188 shares during the period. 36.96% of the stock is currently owned by institutional investors.

Matterport Stock Up 0.3 %

Shares of NASDAQ MTTR traded up $0.01 during midday trading on Friday, hitting $3.98. The stock had a trading volume of 2,251,510 shares, compared to its average volume of 2,458,088. The company has a market cap of $1.25 billion, a P/E ratio of -6.63 and a beta of 1.08. The business’s 50 day moving average is $3.92 and its 200-day moving average is $2.87. Matterport has a 52 week low of $1.73 and a 52 week high of $4.99.

Matterport (NASDAQ:MTTR) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. Matterport had a negative return on equity of 33.59% and a negative net margin of 113.62%. The business had revenue of $39.87 million for the quarter, compared to analysts’ expectations of $39.98 million. As a group, analysts expect that Matterport will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Loop Capital reaffirmed a “hold” rating and issued a $5.50 target price (up from $5.00) on shares of Matterport in a research report on Tuesday, April 23rd. Wedbush decreased their target price on shares of Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Piper Sandler boosted their price target on Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, Northland Securities reaffirmed a “market perform” rating and set a $5.50 price objective on shares of Matterport in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.50.

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.