Nano Dimension (NASDAQ:NNDM) Stock Price Passes Above Fifty Day Moving Average - Here's Why

Nano Dimension Ltd. (NASDAQ:NNDM - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.78 and traded as high as $1.7950. Nano Dimension shares last traded at $1.67, with a volume of 2,629,047 shares trading hands.

Analyst Upgrades and Downgrades

NNDM has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Nano Dimension in a research note on Thursday, January 22nd. Wall Street Zen lowered Nano Dimension from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Nano Dimension currently has a consensus rating of "Sell".

Nano Dimension Stock Down 4.6%

The stock has a 50 day moving average price of $1.78 and a 200 day moving average price of $1.76. The stock has a market capitalization of $347.34 million, a price-to-earnings ratio of -1.37 and a beta of 0.98.

Nano Dimension (NASDAQ:NNDM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported ($1.06) EPS for the quarter. Nano Dimension had a negative net margin of 286.32% and a negative return on equity of 12.48%. The firm had revenue of $35.32 million for the quarter.

Institutional Trading of Nano Dimension

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake 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 purchasing an additional 13,893 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 purchasing an additional 15,506 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Nano Dimension during the fourth quarter valued at about $34,000. QRG Capital Management Inc. boosted its stake in shares of Nano Dimension by 83.1% during the third 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 in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Nano Dimension during the fourth quarter valued at about $42,000. 33.89% of the stock is owned by institutional investors and hedge funds.

About Nano Dimension

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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