3D Systems (NYSE:DDD) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• 3D Systems shares crossed above their 200-day moving average, reaching $3.39 before last trading at $3.20, compared with a 200-day average of $2.64.
• Analyst sentiment remains mixed: Craig Hallum upgraded the stock to “buy” with a $6 target, while Weiss Ratings downgraded it to “sell.” The overall consensus rating is “Hold”, with an average price target of $5.50.
• For the latest quarter, 3D Systems reported a loss of $0.04 per share, beating expectations by $0.02, and revenue of $94.6 million, slightly above estimates. Institutional investors own approximately 64.5% of the company’s shares.

Shares of 3D Systems Corporation (NYSE:DDD - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.64 and traded as high as $3.39. 3D Systems shares last traded at $3.20, with a volume of 1,998,331 shares traded.

Analyst Ratings Changes

DDD has been the topic of several research analyst reports. Weiss Ratings lowered 3D Systems from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Craig Hallum raised shares of 3D Systems from a "hold" rating to a "buy" rating and set a $6.00 target price for the company in a report on Tuesday, August 4th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $5.00 price target 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 given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, 3D Systems currently has a consensus rating of "Hold" and an average target price of $5.50.

3D Systems Stock Down 6.2%

The company has a market capitalization of $531.68 million, a price-to-earnings ratio of -7.80 and a beta of 2.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.40 and a quick ratio of 2.27. The firm's fifty day moving average price is $3.09 and its 200-day moving average price is $2.64.

3D Systems (NYSE:DDD - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The 3D printing company reported ($0.04) earnings per share for the quarter, beating 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 company had revenue of $94.60 million for the quarter, compared to the consensus estimate of $94.01 million. Sell-side analysts expect that 3D Systems Corporation will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. acquired 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% during the second quarter. Prudential Financial Inc. now owns 18,427 shares of the 3D printing company's stock valued at $28,000 after acquiring an additional 7,887 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of 3D Systems by 5,139.4% during the first quarter. NewEdge Advisors LLC now owns 13,151 shares of the 3D printing company's stock worth $28,000 after purchasing an additional 12,900 shares during the period. CIBC Asset Management Inc acquired a new position in shares of 3D Systems during the fourth quarter worth $36,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of 3D Systems in the third quarter worth $41,000. Institutional investors and hedge funds own 64.49% of the company's stock.

About 3D Systems

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.

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