zSpace (NASDAQ:ZSPC) Stock Price Down 4.1% – Here’s What Happened

zSpace, Inc (NASDAQ:ZSPC)’s share price traded down 4.1% during mid-day trading on Thursday . The company traded as low as $0.3174 and last traded at $0.3384. 542,996 shares were traded during trading, a decline of 30% from the average session volume of 773,437 shares. The stock had previously closed at $0.3530.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ZSPC shares. Wall Street Zen downgraded shares of zSpace from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of zSpace in a research note on Wednesday, January 21st. Barrington Research decreased their target price on zSpace from $5.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. Finally, Northland Securities lowered zSpace from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, zSpace presently has a consensus rating of “Hold” and an average target price of $6.00.

zSpace Trading Up 5.8%

The stock has a fifty day moving average price of $0.48 and a 200 day moving average price of $1.18. The firm has a market cap of $10.40 million, a price-to-earnings ratio of -0.45 and a beta of -0.55.

zSpace (NASDAQ:ZSPC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). The firm had revenue of $8.79 million for the quarter, compared to analyst estimates of $8.43 million.

Institutional Investors Weigh In On zSpace

An institutional investor recently bought a new position in zSpace stock. Millennium Management LLC purchased a new stake in zSpace, Inc (NASDAQ:ZSPC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,148 shares of the company’s stock, valued at approximately $25,000. Millennium Management LLC owned 0.09% of zSpace at the end of the most recent reporting period.

About zSpace

zSpace, Inc is a technology company that develops augmented and virtual reality solutions designed to deliver immersive learning experiences. Headquartered in Pleasanton, California, the company focuses on integrating advanced 3D visualization hardware and interactive software to support science, technology, engineering and mathematics (STEM) education, as well as professional training applications.

The company’s flagship offering, the zSpace AR/VR system, combines a stereoscopic display, stylus-based interaction and head-tracking technology to enable users to manipulate and explore three-dimensional models.