Barrington Research Cuts zSpace (NASDAQ:ZSPC) Price Target to $5.00

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 price target decreased by research analysts at Barrington Research from $10.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Barrington Research's target price would indicate a potential upside of 133.64% from the company's previous close.

zSpace Trading Down 1.4%

Shares of NASDAQ:ZSPC traded down $0.03 during midday trading on Friday, reaching $2.14. 25,781 shares of the company's stock traded hands, compared to its average volume of 72,162. zSpace has a one year low of $1.97 and a one year high of $32.69. The stock has a 50 day moving average of $2.92 and a 200 day moving average of $7.70.

zSpace (NASDAQ:ZSPC - Get Free Report) last announced 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 firm had revenue of $7.46 million during the quarter, compared to analysts' expectations of $7.59 million.

Institutional Trading of zSpace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new stake in zSpace in the fourth quarter worth about $359,000. XTX Topco Ltd purchased a new stake in zSpace in the second quarter worth about $39,000. Finally, Invesco Ltd. purchased a new stake in zSpace in the first quarter worth about $170,000.

zSpace Company Profile

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.