Nano Dimension (NASDAQ:NNDM) Stock Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Nano Dimension shares fell below their 50‑day moving average
• Analyst sentiment is weak with a consensus "Sell", although Wall Street Zen recently upgraded the stock to a "Hold" while Weiss Ratings reaffirmed a "Sell."
• Several institutions increased or initiated positions in Q4 (including Wells Fargo and Caitong), and institutional investors now own about 33.89% of the company.

Nano Dimension Ltd. (NASDAQ:NNDM - Get Free Report) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.86 and traded as low as $1.73. Nano Dimension shares last traded at $1.78, with a volume of 2,567,454 shares traded.

Analysts Set New Price Targets

Several analysts have weighed in on NNDM shares. Wall Street Zen upgraded shares of Nano Dimension from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Nano Dimension in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell".

Nano Dimension Price Performance

The company has a fifty day moving average price of $1.86 and a 200 day moving average price of $1.73. The stock has a market cap of $374.41 million, a P/E ratio of -1.46 and a beta of 0.93.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in shares of Nano Dimension by 266.1% during the fourth quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company's stock valued at $29,000 after buying an additional 13,893 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Nano Dimension by 392.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 19,459 shares of the technology company's stock valued at $30,000 after acquiring an additional 15,506 shares in the last quarter. Merit Financial Group LLC bought a new position in Nano Dimension in the 4th quarter valued at about $34,000. QRG Capital Management Inc. boosted its stake in Nano Dimension by 83.1% during the 3rd quarter. QRG Capital Management Inc. now owns 23,544 shares of the technology company's stock valued at $37,000 after purchasing an additional 10,683 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Nano Dimension during the 4th quarter valued at about $42,000. 33.89% of the stock is owned by 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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