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

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Matterport

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. bought a new position in shares of Matterport in the 1st quarter valued at $25,000. Droms Strauss Advisors Inc. MO ADV acquired a new position in Matterport during the 4th quarter worth approximately $27,000. Apollon Wealth Management LLC acquired a new position in Matterport during the 4th quarter worth approximately $28,000. Private Advisor Group LLC bought a new position in Matterport in the 4th quarter valued at approximately $31,000. Finally, Choreo LLC acquired a new stake in Matterport in the fourth quarter valued at approximately $33,000. 36.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MTTR has been the topic of a number of research reports. Loop Capital reaffirmed a "hold" rating and issued a $5.50 price objective (up from $5.00) on shares of Matterport in a report on Tuesday, April 23rd. Piper Sandler upped their price target on shares of Matterport from $3.00 to $5.50 and gave the company a "neutral" rating in a research note on Monday, April 22nd. Wedbush dropped their price objective 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. Finally, Northland Securities reissued a "market perform" rating and issued a $5.50 price objective on shares of Matterport in a report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, Matterport currently has an average rating of "Hold" and a consensus price target of $4.50.

Matterport Stock Performance

Shares of NASDAQ MTTR traded up $0.01 during mid-day trading on Friday, reaching $3.98. The company had a trading volume of 2,249,582 shares, compared to its average volume of 3,538,955. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -6.63 and a beta of 1.08. The business's 50-day simple moving average is $3.92 and its 200 day simple moving average is $2.87. Matterport has a one year low of $1.73 and a one year high of $4.99.

Matterport (NASDAQ:MTTR - Get Free Report) last issued its earnings results on Monday, May 6th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. The company had revenue of $39.87 million during the quarter, compared to analysts' expectations of $39.98 million. Matterport had a negative net margin of 113.62% and a negative return on equity of 33.59%. On average, sell-side analysts anticipate that Matterport will post -0.45 EPS for the current year.

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.