Materialise (NASDAQ:MTLS) Now Covered by Analysts at DA Davidson

Key Points

• DA Davidson initiated coverage of Materialise with a “buy” rating, while the broader analyst consensus remains “Moderate Buy” with an average price target of $10.00.
• Materialise shares opened at $8.75 and were up 2.0%, near their 52-week high of $8.82; the company has a market capitalization of approximately $516.9 million.
• The software maker reported quarterly EPS of $0.07 on revenue of $78.9 million, and analysts expect full-year EPS of $0.16. Institutional investors and hedge funds own 19.3% of the stock.

Analysts at DA Davidson assumed coverage on shares of Materialise (NASDAQ:MTLS - Get Free Report) in a research report issued on Tuesday, FinViz reports. The firm set a "buy" rating on the software maker's stock.

A number of other research analysts have also commented on MTLS. Wall Street Zen lowered shares of Materialise from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. Weiss Ratings restated a "hold (c-)" rating on shares of Materialise in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.00.

Materialise Stock Up 2.0%

MTLS stock opened at $8.75 on Tuesday. Materialise has a 1-year low of $4.78 and a 1-year high of $8.82. The business's 50 day simple moving average is $7.12 and its 200 day simple moving average is $6.36. The company has a current ratio of 2.41, a quick ratio of 2.22 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $516.86 million, a PE ratio of 32.41 and a beta of 1.36.

Materialise (NASDAQ:MTLS - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The software maker reported $0.07 EPS for the quarter. The firm had revenue of $78.90 million during the quarter. Materialise had a net margin of 4.85% and a return on equity of 5.20%. As a group, research analysts anticipate that Materialise will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Materialise

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. bought a new position in Materialise in the 2nd quarter valued at about $81,000. Engineers Gate Manager LP lifted its holdings in shares of Materialise by 175.0% during the 2nd quarter. Engineers Gate Manager LP now owns 34,723 shares of the software maker's stock worth $258,000 after acquiring an additional 22,098 shares during the period. NewEdge Advisors LLC boosted its position in shares of 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 acquiring an additional 24,759 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Materialise during the 2nd quarter worth approximately $118,000. Finally, Pacer Advisors Inc. increased its stake in Materialise by 74.2% in the first quarter. Pacer Advisors Inc. now owns 8,232 shares of the software maker's stock valued at $41,000 after acquiring an additional 3,506 shares during the last quarter. 19.30% of the stock is owned by institutional investors and hedge funds.

About Materialise

Materialise NV is a Belgium-based company that develops software and provides services for additive manufacturing, commonly known as 3D printing. Its solutions help organizations design, prepare, manage and produce three-dimensional parts and products across a range of industrial and healthcare applications.

The company's offerings include additive manufacturing software, engineering and manufacturing services, and medical solutions. Its medical business provides software and services used to create patient-specific anatomical models, surgical guides, implants and other applications that support planning and treatment.

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