MMAT - Meta Materials up 9% grabs additional order worth $855K
Meta Materials ( NASDAQ: MMAT ) price jumps 9% as it gets a new purchase order for its authentication and nano-optic security business worth $855K.
The new purchase order represents an additional to the $4.3MM base award previously received in September 2022, bringing the total orders received to ~$14.4M for continued work under the multi-year agreement.
The company has been executing maximum value of $41.5M over a period of up to five years with a confidential G10 central bank customer.
SA warns that the stock is at a high risk of performing badly due to negative EPS revisions and inferior profitability. In contrast, sell side analyst give it a Buy rating and have an average $2.75.
The company so far has dropped ~33% in 2023, and over the last one year it slumped ~62%.
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Meta Materials up 9%, grabs additional order worth $855K