Nano Dimension (NASDAQ:NNDM) Shares Cross Below 50-Day Moving Average - Here's Why

Key Points

• Nano Dimension shares fell below their 50-day moving average on Friday, trading as low as $1.47 before last changing hands at $1.55. The stock’s 50-day average is $1.52, while its 200-day average is $1.70.
• Analyst sentiment remains negative, with Weiss Ratings reiterating a “sell (d-)” and Wall Street Zen downgrading the stock from “hold” to “sell.” MarketBeat data shows an overall average rating of “Sell.”
• Recent fundamentals remain weak, as Nano Dimension reported a quarterly loss of $0.34 per share on revenue of $29.73 million. The company also posted a negative return on equity and a very negative net margin.

Nano Dimension Ltd. (NASDAQ:NNDM - Get Free Report)'s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.52 and traded as low as $1.47. Nano Dimension shares last traded at $1.55, with a volume of 2,386,175 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Nano Dimension in a research report on Monday, July 6th. Wall Street Zen downgraded Nano Dimension from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of "Sell".

Nano Dimension Price Performance

The company's 50-day moving average is $1.52 and its 200-day moving average is $1.70. The firm has a market capitalization of $329.31 million, a price-to-earnings ratio of -3.52 and a beta of 1.00.

Nano Dimension (NASDAQ:NNDM - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The technology company reported ($0.34) EPS for the quarter. The company had revenue of $29.73 million for the quarter. Nano Dimension had a negative return on equity of 22.07% and a negative net margin of 286.72%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in Nano Dimension by 266.1% during the 4th quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company's stock worth $29,000 after purchasing an additional 13,893 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Nano Dimension by 392.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,459 shares of the technology company's stock valued at $30,000 after buying an additional 15,506 shares in the last quarter. Merit Financial Group LLC acquired a new position in Nano Dimension during the fourth quarter valued at approximately $34,000. Lido Advisors LLC purchased a new stake in Nano Dimension during the first quarter worth approximately $35,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Nano Dimension during the fourth quarter worth approximately $42,000. 33.89% of the stock is owned by hedge funds and other institutional investors.

Nano Dimension Company Profile

Nano Dimension Ltd. NASDAQ: NNDM is a provider of advanced additive manufacturing solutions tailored for the electronics industry. Founded in 2012 and headquartered in Ness Ziona, Israel, the company develops integrated hardware, software and material platforms designed to accelerate the design and production of printed circuit boards (PCBs) and conformal electronic devices. Its flagship DragonFly printers use patented inkjet-based 3D printing technology to produce multi-layer PCB prototypes in a single build process, reducing lead times and enabling rapid design iterations.

In addition to its 3D printing systems, Nano Dimension offers a suite of proprietary conductive and dielectric inks, as well as workflow software that connects designers, engineers and manufacturers.

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