Materialise (NASDAQ:MTLS) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Materialise from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with an average price target of $10.00.
• Materialise shares opened at $7.18, down 0.8%, with a market capitalization of approximately $424 million and a 52-week range of $4.78 to $8.82.
• The company reported quarterly EPS of $0.03, beating estimates by $0.01, while revenue of $76.65 million fell short of expectations; institutional investors own 19.3% of the stock.

Materialise (NASDAQ:MTLS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

MTLS has been the topic of several other research reports. Weiss Ratings raised Materialise from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday. DA Davidson assumed coverage on Materialise in a research report on Tuesday, September 29th. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $10.00.

Materialise Trading Down 0.8%

NASDAQ MTLS opened at $7.18 on Friday. Materialise has a one year low of $4.78 and a one year high of $8.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.22 and a current ratio of 2.52. The company has a market capitalization of $424.12 million, a price-to-earnings ratio of 27.85 and a beta of 1.33. The company's 50-day simple moving average is $7.83 and its two-hundred day simple moving average is $6.39.

Materialise (NASDAQ:MTLS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The software maker reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $76.65 million during the quarter, compared to analysts' expectations of $78.13 million. Materialise had a net margin of 4.68% and a return on equity of 4.99%. Equities analysts forecast that Materialise will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Materialise

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Materialise by 33.2% during the third quarter. GAMMA Investing LLC now owns 10,892 shares of the software maker's stock valued at $93,000 after acquiring an additional 2,716 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Materialise in the 2nd quarter valued at approximately $81,000. Engineers Gate Manager LP boosted its stake in Materialise by 175.0% in the 2nd quarter. Engineers Gate Manager LP now owns 34,723 shares of the software maker's stock worth $258,000 after purchasing an additional 22,098 shares in the last quarter. NewEdge Advisors LLC grew its position in Materialise by 1,606.7% during the 2nd quarter. NewEdge Advisors LLC now owns 26,300 shares of the software maker's stock worth $195,000 after purchasing an additional 24,759 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in Materialise during the 2nd quarter valued at approximately $118,000. 19.30% of the stock is currently owned by hedge funds and other institutional investors.

About Materialise

Materialise NV is a Belgium-based company that develops software and provides services for additive manufacturing, commonly known as 3D printing. Its technologies are used by manufacturers, medical professionals and researchers to design, prepare, manage and produce three-dimensional parts and devices.

The company's software portfolio includes solutions such as Magics for preparing and managing 3D-printing jobs, the Mimics Innovation Suite for processing medical imaging data and creating patient-specific models, and 3-matic for advanced design and engineering applications.

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