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

Key Points

• Nano Dimension shares fell below their 50-day moving average, trading as low as $1.4601 and closing around $1.48, below the $1.51 average. The stock’s 200-day moving average is $1.69.
• Analyst sentiment is strongly negative: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings reaffirmed a “sell (D-)” rating, and MarketBeat reports a consensus “Sell” rating.
• The company reported a quarterly loss of $0.34 per share on $29.73 million in revenue, alongside a negative net margin of 286.72%. Hedge funds and other institutional investors own 33.89% of the company.

Shares of Nano Dimension Ltd. (NASDAQ:NNDM - Get Free Report) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.51 and traded as low as $1.4601. Nano Dimension shares last traded at $1.48, with a volume of 1,363,361 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on NNDM shares. Wall Street Zen downgraded Nano Dimension from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Dimension in a report on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

Nano Dimension Stock Performance

The firm has a 50-day moving average price of $1.51 and a two-hundred day moving average price of $1.69. The firm has a market cap of $314.44 million, a price-to-earnings ratio of -3.36 and a beta of 1.00.

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

Institutional Investors Weigh In On Nano Dimension

A number of institutional investors and hedge funds have recently bought and sold shares of NNDM. Marquette Asset Management LLC acquired a new stake in shares of Nano Dimension in the 2nd quarter valued at about $289,000. Pacer Advisors Inc. boosted its stake in Nano Dimension by 73.7% during the 1st quarter. Pacer Advisors Inc. now owns 93,397 shares of the technology company's stock worth $159,000 after purchasing an additional 39,625 shares during the period. Lido Advisors LLC purchased a new position in Nano Dimension during the 1st quarter worth $35,000. Caitong International Asset Management Co. Ltd increased its stake in Nano Dimension by 1,053.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 45,605 shares of the technology company's stock valued at $70,000 after purchasing an additional 41,652 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Nano Dimension in the fourth quarter valued at about $322,000. 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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