Short Interest in Matterport, Inc. (NASDAQ:MTTR) Drops By 21.8%

Matterport, Inc. (NASDAQ:MTTR) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 6,120,000 shares, a decrease 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. Currently, 2.3% of the company’s shares are short sold.

Insider Activity at Matterport

In related news, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $2.25, for a total transaction of $56,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,314,918 shares in the company, valued at approximately $2,958,565.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Matterport news, CAO Peter Presunka sold 7,583 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was 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 available at this link. Also, CFO James Daniel Fay sold 25,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $2.25, for a total value of $56,250.00. Following the completion of the sale, the chief financial officer now owns 1,314,918 shares of the company’s stock, valued at approximately $2,958,565.50. The disclosure for this sale can be found here. Insiders sold 475,645 shares of company stock worth $2,048,344 in the last ninety days. 17.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTTR. G2 Investment Partners Management LLC increased its position in Matterport by 136.7% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,396,528 shares of the company’s stock valued at $3,757,000 after buying an additional 806,528 shares in the last quarter. Vanguard Group Inc. increased its position in Matterport by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 24,406,900 shares of the company’s stock valued at $55,160,000 after buying an additional 520,490 shares in the last quarter. IMC Chicago LLC bought a new stake in shares of Matterport in the 1st quarter worth $465,000. GSA Capital Partners LLP increased its holdings in shares of Matterport by 85.3% in the 1st quarter. GSA Capital Partners LLP now owns 389,185 shares of the company’s stock worth $880,000 after purchasing an additional 179,174 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Matterport in the 3rd quarter worth $291,000. Institutional investors own 36.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTTR. Wedbush dropped their price objective on Matterport from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Piper Sandler increased their price objective on Matterport from $3.00 to $5.50 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Loop Capital reissued a “hold” rating and issued a $5.50 target price (up previously from $5.00) on shares of Matterport in a research report on Tuesday, April 23rd. Finally, Northland Securities reissued a “market perform” rating and issued a $5.50 target price on shares of Matterport in a research report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Matterport presently has a consensus rating of “Hold” and a consensus target price of $4.50.

Matterport Price Performance

Shares of NASDAQ:MTTR opened at $3.93 on Friday. Matterport has a 52-week low of $1.73 and a 52-week high of $4.99. The stock has a 50 day moving average price of $3.88 and a 200-day moving average price of $2.86.

Matterport (NASDAQ:MTTR) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Matterport had a negative return on equity of 33.59% and a negative net margin of 113.62%. The company had revenue of $39.87 million during the quarter, compared to analyst estimates of $39.98 million. On average, equities analysts anticipate that Matterport will post -0.45 earnings per share for the current fiscal 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.