Nano Dimension (NASDAQ:NNDM) Stock Price Breaks Below Fifty Day Moving Average – Here’s Why

Nano Dimension Ltd. (NASDAQ:NNDM)’s stock price crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $1.56 and traded as low as $1.40. Nano Dimension shares last traded at $1.41, with a volume of 1,455,855 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Dimension in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Nano Dimension has a consensus rating of “Sell”.

Nano Dimension Stock Down 2.1%

The business has a 50-day moving average price of $1.56 and a 200-day moving average price of $1.58. The company has a market capitalization of $297.28 million, a price-to-earnings ratio of -3.07 and a beta of 0.99.

Nano Dimension (NASDAQ:NNDM) last released its quarterly earnings results on Thursday, August 6th. The technology company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $28.96 million during the quarter, compared to analyst estimates of $5.50 million. Nano Dimension had a negative return on equity of 24.92% and a negative net margin of 135.18%.

Institutional Trading of Nano Dimension

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC increased its position in shares of Nano Dimension by 164.1% in the second quarter. Tidal Investments LLC now owns 674,642 shares of the technology company’s stock worth $978,000 after acquiring an additional 419,208 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Nano Dimension during the second quarter valued at approximately $289,000. Pacer Advisors Inc. lifted its position in shares of Nano Dimension by 73.7% in the 1st quarter. Pacer Advisors Inc. now owns 93,397 shares of the technology company’s stock valued at $159,000 after acquiring an additional 39,625 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Nano Dimension by 1,053.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 45,605 shares of the technology company’s stock valued at $70,000 after acquiring an additional 41,652 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its position in shares of Nano Dimension by 95.3% in the 2nd quarter. Engineers Gate Manager LP now owns 42,489 shares of the technology company’s stock valued at $62,000 after acquiring an additional 20,735 shares in the last quarter. 33.89% of the stock is owned by hedge funds and other institutional investors.

About Nano Dimension

Nano Dimension Ltd. (NASDAQ: NNDM) is an additive manufacturing company that develops systems for producing electronic and industrial components. Its technologies are designed to support the digital fabrication of complex parts, including printed circuit boards, electronic circuitry, and other components used in specialized manufacturing and research applications.

The company’s product portfolio has included the DragonFly platform, which is designed for the additive manufacturing of electronic circuitry, and the Fabrica line of high-resolution micro 3D printing systems.