Barrington Research Has Lowered Expectations for zSpace (NASDAQ:ZSPC) Stock Price

Key Points

• Barrington Research has reduced the target price for zSpace's stock from $10.00 to $5.00, while maintaining an "outperform" rating, indicating a potential upside of 115.52% from the last closing price.
• Shares of zSpace (ZSPC) saw a decline of 8.7% during trading, settling at $2.32, significantly below its 50-day and 200-day moving averages.
• In its latest earnings report, zSpace posted an earnings per share (EPS) of ($0.27), missing analyst estimates and generating revenue of $7.46 million, which also fell short of expectations.

zSpace (NASDAQ:ZSPC - Get Free Report) had its target price lowered by analysts at Barrington Research from $10.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Barrington Research's price target suggests a potential upside of 115.52% from the company's previous close.

zSpace Trading Down 8.7%

Shares of ZSPC traded down $0.22 during midday trading on Friday, hitting $2.32. 71,307 shares of the company traded hands, compared to its average volume of 71,546. The stock has a 50-day moving average of $3.09 and a 200-day moving average of $8.08. zSpace has a one year low of $1.97 and a one year high of $32.69.

zSpace (NASDAQ:ZSPC - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.11). The business had revenue of $7.46 million during the quarter, compared to analyst estimates of $7.59 million.

Institutional Investors Weigh In On zSpace

Several institutional investors and hedge funds have recently modified their holdings of ZSPC. XTX Topco Ltd acquired a new stake in zSpace during the 2nd quarter valued at $39,000. Jane Street Group LLC purchased a new position in zSpace in the fourth quarter valued at about $359,000. Finally, Invesco Ltd. acquired a new stake in shares of zSpace during the first quarter valued at about $170,000.

About zSpace

zSpace Technologies, Inc is a provider of commercial augmented reality and virtual reality technology principally in the education market. The Company offers differentiated hardware along with learning software modules for K-12 science, technology, engineering, game design and mathematics applications, as well as workforce-oriented career and technical education applications.

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