3D Systems (NYSE:DDD) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of 3D Systems Corporation (NYSE:DDD) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $2.97 and traded as high as $3.36. 3D Systems shares last traded at $3.24, with a volume of 2,670,591 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings lowered 3D Systems from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Craig Hallum upgraded 3D Systems from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.50.

3D Systems Trading Down 7.8%

The company has a market cap of $488.47 million, a price-to-earnings ratio of -7.17 and a beta of 2.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.27 and a current ratio of 3.40. The business’s 50 day moving average price is $3.44 and its 200-day moving average price is $2.98.

3D Systems (NYSE:DDD) last released its quarterly earnings data on Monday, August 3rd. The 3D printing company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. 3D Systems had a negative net margin of 14.15% and a negative return on equity of 19.56%. The company had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.01 million. On average, research analysts forecast that 3D Systems Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling

In other 3D Systems news, CEO Jeffrey Graves sold 115,500 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $3.26, for a total transaction of $376,530.00. Following the completion of the transaction, the chief executive officer owned 1,314,241 shares in the company, valued at $4,284,425.66. This trade represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 3D Systems

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in 3D Systems by 20.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,881,311 shares of the 3D printing company’s stock valued at $3,537,000 after acquiring an additional 320,427 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of 3D Systems by 16.2% during the first quarter. Renaissance Technologies LLC now owns 1,159,550 shares of the 3D printing company’s stock valued at $2,180,000 after acquiring an additional 161,643 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of 3D Systems in the 2nd quarter valued at $1,221,000. Squarepoint Ops LLC acquired a new stake in shares of 3D Systems in the 2nd quarter valued at $774,000. Finally, PFG Investments LLC boosted its stake in shares of 3D Systems by 91.4% in the 1st quarter. PFG Investments LLC now owns 159,175 shares of the 3D printing company’s stock valued at $299,000 after purchasing an additional 75,990 shares in the last quarter. 64.49% of the stock is currently owned by institutional investors.

About 3D Systems

3D Systems Corporation (NYSE: DDD) develops and provides additive manufacturing technologies, commonly known as 3D printing. The company serves industrial and healthcare customers with systems designed to produce prototypes, production parts, models, and customized components.

Its offerings include 3D printers, printing materials, software, and related services. The company supports multiple additive manufacturing processes and materials, including polymer and metal-based technologies, and provides design, engineering, production, and healthcare solutions for applications such as aerospace, automotive, medical devices, dental products, and industrial manufacturing.

Founded in 1986 by Chuck Hull, the inventor of stereolithography, 3D Systems is widely recognized as one of the pioneers of commercial 3D printing.