MMAT - Dear MMAT Stock Fans Get Ready for CES 2023

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All eyes are on Meta Materials (NASDAQ:MMAT), as the company will be participating in the Consumer Electronics Show (CES) 2023 technology convention from Jan. 5 to Jan. 8. CES has cemented itself as one of most influential tech conventions in the world where the latest technology is showcased. MMAT stock is down over 55% YTD but will likely see some price movement after the company’s CES showcase.

Water Tower Research analyst Graham Mattison notes that the company will showcase its NANOWEB technology, NPORE nanocomposite battery separator, and current collectors at the event. NANOWEB has several use cases, such as for electromagnetic interference (EMI) shielding in microwave doors and heating for automotive sensor covers. Meanwhile, NPORE and the current collectors have use cases in the electric vehicle (EV) industry. Specifically, the current collectors reduce the usage of copper and “improve safety.” Additionally, Mattison notes that the current collectors will be “incorporated in the Project Arrow concept EV” at the event.

The analyst characterizes Meta Materials as a company in its early stages that is headed for a growth curve. He estimates that the company has a total addressable market of over $50 billion, with applications in consumer electronics, EVs, data transmission, energy, and more. To that end, Mattison believes that Meta’s first commercial production contract in 2023 will act as a significant catalyst.

NANOWEB EMI shielding carries a quick time to market for high-end microwaves, which is Meta’s initial target market. Furthermore, consumers seeking high-end microwaves are less sensitive to prices. As a result, Mattison believes that the technology will be the first to obtain a commercial production contract in 2023. On top of that, Meta’s NANOWEB EMI shielding was named a CES 2023 Innovation Awards Honoree. About 70 million microwaves are sold per year, while consumers typically replace their microwaves every seven to 10 years.

For now, Meta Materials will focus on making incremental improvements in existing products. For example, Mattison explains that the company’s separator makes lithium-ion batteries safer, while its copper current collectors are 80% lighter than existing technologies. The company also has a separate operation that focuses on security features that can be incorporated into currency to prevent fraud.

Still, Mattison expects a need for additional capital in the upcoming years. However, he concludes that “any capital raise will be tied to significant growth opportunities.”

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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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