3D Systems (NYSE:DDD) Shares Gap Up – Here’s Why

3D Systems Corporation (NYSE:DDD)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.28, but opened at $3.54. 3D Systems shares last traded at $3.40, with a volume of 401,828 shares traded.

Wall Street Analyst Weigh In

DDD has been the topic of several recent research reports. Weiss Ratings downgraded 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 for the company in a research report on Tuesday, August 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of 3D Systems in a research note on Wednesday, May 13th. Three 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, the stock currently has an average rating of “Hold” and an average target price of $5.50.

3D Systems Price Performance

The business has a 50-day moving average of $3.09 and a 200 day moving average of $2.71. The company has a current ratio of 3.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $561.59 million, a P/E ratio of -8.24 and a beta of 2.75.

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

Insider Buying and Selling

In other 3D Systems news, CEO Jeffrey A. Graves sold 115,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 1,314,241 shares in the company, valued at approximately $4,284,425.66. The trade was a 8.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.99% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its position in 3D Systems by 5,139.4% in the 1st quarter. NewEdge Advisors LLC now owns 13,151 shares of the 3D printing company’s stock valued at $28,000 after acquiring an additional 12,900 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in 3D Systems during the 3rd quarter valued at about $41,000. J. Derek Lewis & Associates Inc. bought a new stake in 3D Systems during the 4th quarter worth approximately $27,000. Prudential Financial Inc. raised its stake in shares of 3D Systems by 74.8% in the second quarter. Prudential Financial Inc. now owns 18,427 shares of the 3D printing company’s stock worth $28,000 after purchasing an additional 7,887 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of 3D Systems in the third quarter worth approximately $54,000. 64.49% of the stock is currently owned by institutional investors and hedge funds.

3D Systems Company Profile

3D Systems, founded in 1986 by stereolithography pioneer Chuck Hull, is a leading provider of additive manufacturing solutions. Headquartered in Rock Hill, South Carolina, the company develops and sells a broad range of 3D printers, materials, software, and on-demand manufacturing services. Its core technologies include stereolithography (SLA), selective laser sintering (SLS), direct metal printing (DMP), and multi-jet printing (MJP), enabling customers to build prototypes, production parts, and complex geometries across a variety of industries.

The company’s hardware portfolio spans desktop to production-scale systems designed for applications in aerospace, automotive, healthcare, consumer products, and education.