Matterport, Inc. (NASDAQ:MTTR) Sees Large Decrease in Short Interest

Matterport, Inc. (NASDAQ:MTTR) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 4,490,000 shares, a drop of 17.9% from the July 31st total of 5,470,000 shares. Based on an average trading volume of 2,130,000 shares, the short-interest ratio is currently 2.1 days. Approximately 1.7% of the company’s stock are sold short.

Insider Buying and Selling at Matterport

In other news, CAO Peter Presunka sold 7,583 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total value of $33,441.03. Following the completion of the sale, the chief accounting officer now owns 92,755 shares in the company, valued at approximately $409,049.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Raymond J. Pittman sold 209,180 shares of Matterport stock in a transaction 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 sale, the chief executive officer now directly owns 3,695,530 shares in the company, valued at $16,297,287.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Peter Presunka sold 7,583 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $4.41, for a total value of $33,441.03. Following the completion of the transaction, the chief accounting officer now owns 92,755 shares of the company’s stock, valued at approximately $409,049.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 475,645 shares of company stock worth $2,095,344. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Matterport

A number of large investors have recently bought and sold shares of MTTR. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Matterport by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,734 shares of the company’s stock worth $188,000 after acquiring an additional 9,793 shares during the period. Choreo LLC bought a new position in Matterport during the fourth quarter worth about $33,000. Victory Capital Management Inc. increased its stake in shares of Matterport by 23.4% in the fourth quarter. Victory Capital Management Inc. now owns 33,901 shares of the company’s stock worth $91,000 after purchasing an additional 6,425 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Matterport in the fourth quarter valued at approximately $31,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Matterport during the 4th quarter valued at approximately $28,000. 36.96% of the stock is owned by hedge funds and other institutional investors.

Matterport Stock Performance

MTTR opened at $4.53 on Friday. Matterport has a fifty-two week low of $1.73 and a fifty-two week high of $4.99. The firm has a 50-day moving average of $4.31 and a 200 day moving average of $3.56. The firm has a market cap of $1.42 billion, a P/E ratio of -7.55 and a beta of 1.07.

Matterport (NASDAQ:MTTR) last released its earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Matterport had a negative net margin of 113.62% and a negative return on equity of 33.59%. The firm had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $44.38 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts predict that Matterport will post -0.45 earnings per share for the current fiscal year.

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.