5 Investors Betting Big on Meta Materials (MMAT) Stock in 2023

  • Thomas Welch is the largest shareholder of Meta Materials (MMAT).
  • The company recently presented its NANOWEB® technology at CES 2023, which won an innovation award.
  • Shares of MMAT stock are down by about 2% today.
MMAT stock - 5 Investors Betting Big on Meta Materials (MMAT) Stock in 2023

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It’s been about a month since the Financial Industry Regulatory Authority (FINRA) decided to suspend shares of Meta Materials Preferred Shares (MMTLP), and shareholders on social media are still reporting that they have not yet received shares of Next Bridge Hydrocarbons. At the time, FINRA attributed the suspension to halt code U3, which is used in situations involving an “extraordinary event” that may cause “major disruption.” Shareholders argued that the suspension was enacted to protect short sellers of MMTLP.

Meanwhile, Meta Materials (NASDAQ:MMAT) drew headlines with its Project Arrow contributions and NANOWEB® technology at the Consumer Electronics Show (CES) 2023. Project Arrow is characterized as the “first, original, full-build zero-emission.” Meta Materials contributed its NANOWEB® technology to the project, which can be used for electromagnetic interference (EMI) shielding, deicing, defogging and a range of other automotive applications. The company’s NANOWEB® transparent EMI shielding film also received an innovation award.

Meta cites an IDTechEx study that estimates that automotive electric vehicle (EV) units will grow at a compound annual growth rate (CAGR) of 22% until 2030. By that year, revenues are expected to exceed $1 trillion. President and CEO George Palikaras added:

“We’re poised to turn powerful concepts into practical applications, utilizing invisible nanocomposite technologies. META’s automotive solutions do more with less by addressing the need for more efficient and sustainable material use, with an added benefit of improved functionality.”

5 Investors Betting Big on MMAT Stock in 2023

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q3, 94 13F filers reported owning MMAT, compared to 98 13F filers during the previous quarter. Furthermore, the institutional put/call ratio tallies in at 0.27, down from 0.29 during Q2. That’s equivalent to 537,616 puts and about two million calls, implying a bullish options stance.

With that in mind, let’s take a look at the investors betting big on MMAT stock.

  1. Thomas Welch, 10% owner: 22.16 million shares. Welch’s position consists of 2.44 million MMAT shares and 19.71 million exchangeable shares.
  2. BlackRock (NYSE:BLK): 5.53 million shares. BlackRock purchased 1.52 million shares during Q3.
  3. Vanguard: 5.4 million shares. Vanguard purchased 1.96 million shares during Q3.
  4. State Street (NYSE:STT): 3.35 million shares. State Street sold 9.45 million shares during Q3.
  5. Millennium Management: 3.15 million shares. Millennium sold 2.33 million shares during Q3.

Please note that this list only includes investors who filed a Q3 update. For example, Whale Wisdom reports that insider Greg McCabe owns 9.8 million shares. However, that figure is only accurate as of Q1 2021.

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.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/5-investors-betting-big-on-meta-materials-mmat-stock-in-2023/.

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