3D Systems Corporation $DDD Holdings Increased by AIGH Capital Management LLC

Key Points

• AIGH Capital Management increased its 3D Systems stake by 11.7% in the third quarter, adding 853,428 shares to hold about 4.89% of the company.
• Third-quarter revenue of $99.3 million beat estimates, but adjusted loss per share was wider than expected and the company’s revenue guidance reportedly missed expectations.
• 3D Systems agreed to exchange its $92 million of secured notes for new debt, cash and shares, while also arranging a $42.5 million at-the-market offering—moves that reduce secured debt but could add dilution.

AIGH Capital Management LLC boosted its position in 3D Systems Corporation (NYSE:DDD - Free Report) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,124,428 shares of the 3D printing company's stock after purchasing an additional 853,428 shares during the quarter. 3D Systems comprises approximately 2.9% of AIGH Capital Management LLC's investment portfolio, making the stock its 8th largest position. AIGH Capital Management LLC owned about 4.89% of 3D Systems worth $29,248,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in 3D Systems by 87.4% during the 2nd quarter. NewEdge Advisors LLC now owns 11,873 shares of the 3D printing company's stock valued at $36,000 after acquiring an additional 5,538 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of 3D Systems in the 2nd quarter worth $56,000. Simplicity Wealth LLC acquired a new stake in shares of 3D Systems in the 3rd quarter worth $85,000. GC Wealth Management RIA LLC purchased a new position in shares of 3D Systems during the 1st quarter worth $86,000. Finally, CWA Asset Management Group LLC raised its holdings in shares of 3D Systems by 14.1% during the 3rd quarter. CWA Asset Management Group LLC now owns 28,292 shares of the 3D printing company's stock worth $102,000 after acquiring an additional 3,500 shares during the period. 64.49% of the stock is owned by institutional investors and hedge funds.

Key 3D Systems News

Here are the key news stories impacting 3D Systems this week:

• Positive Sentiment: Third-quarter revenue of $99.3 million topped analyst expectations of $97.28 million, and the company reported approximately $3.1 million in adjusted EBITDA. 3D Systems Q3 financial results
• Neutral Sentiment: 3D Systems agreed to exchange all $92.03 million of its 2030 secured notes for $85 million of new, lower-coupon notes due 2031, $20 million in cash and 13.47 million shares. The deal eliminates secured debt and lowers the interest rate, but the cash payment and new shares are trade-offs. Debt exchange announcement
• Negative Sentiment: The company entered an agreement for a $42.5 million at-the-market stock offering. The potential increase in share supply and dilution likely weighed on the stock. At-the-market offering report
• Negative Sentiment: Quarterly adjusted loss of $0.06 per share was worse than the cited analyst consensus of a $0.04 loss. Separately, reports said quarterly revenue guidance missed expectations, while GAAP net loss widened to $33.5 million from $18.1 million a year earlier. Q3 results and guidance report
• Negative Sentiment: A law firm announced an investigation into potential securities-law violations related to 3D Systems. This is an investigation notice, not a finding of wrongdoing, but may add uncertainty for investors. Investigation notice

Analyst Upgrades and Downgrades

DDD has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of 3D Systems in a research report on Monday. Craig Hallum upgraded shares of 3D Systems from a "hold" rating to a "buy" rating and set a $6.00 target price on the stock in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, 3D Systems presently has a consensus rating of "Moderate Buy" and an average target price of $5.50.

Insiders Place Their Bets

In other 3D Systems news, CEO Jeffrey Graves sold 42,686 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $3.55, for a total value of $151,535.30. Following the completion of the transaction, the chief executive officer owned 1,231,596 shares of the company's stock, valued at $4,372,165.80. This trade represents a 3.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.99% of the stock is currently owned by insiders.

3D Systems Price Performance

Shares of DDD opened at $1.66 on Friday. 3D Systems Corporation has a 1-year low of $1.64 and a 1-year high of $4.12. The stock has a market cap of $275.81 million, a PE ratio of -3.46 and a beta of 2.86. The firm has a 50-day simple moving average of $3.21 and a two-hundred day simple moving average of $2.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.40 and a quick ratio of 2.27.

3D Systems (NYSE:DDD - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The 3D printing company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). 3D Systems had a negative net margin of 17.77% and a negative return on equity of 18.71%. The company had revenue of $99.30 million during the quarter, compared to analysts' expectations of $97.28 million. As a group, analysts forecast that 3D Systems Corporation will post -0.23 EPS for the current year.

About 3D Systems

3D Systems is an additive manufacturing company that develops technologies for producing three-dimensional objects directly from digital designs. Founded in 1986 by Chuck Hull, who invented stereolithography, the company is recognized as one of the early pioneers of commercial 3D printing.

The company provides 3D printers, printing materials, software and related services. Its portfolio includes technologies such as stereolithography, selective laser sintering, direct metal printing and extrusion-based printing, along with specialized materials including photopolymers, thermoplastics and metal powders.

3D Systems serves industrial and healthcare customers in areas including aerospace, automotive, medical devices, dental products, consumer goods and manufacturing.

Want to see what other hedge funds are holding DDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3D Systems Corporation (NYSE:DDD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.