3D Systems (NYSE:DDD) Shares Down 7.1% - What's Next?

Key Points

• 3D Systems shares fell 7.1% to $3.51 on Monday, with trading volume substantially below its average.
• Analysts’ consensus rating is “Hold” with a $5.50 target price, although Craig Hallum upgraded the stock to “Buy” with a $6.00 target.
• The company modestly beat quarterly expectations, reporting a $0.04 loss per share versus the projected $0.06 loss and revenue of $94.6 million, but it remains unprofitable; CEO Jeffrey Graves also sold 42,686 shares.

3D Systems Corporation (NYSE:DDD - Get Free Report)'s stock price dropped 7.1% during trading on Monday. The company traded as low as $3.49 and last traded at $3.51. Approximately 407,178 shares changed hands during trading, a decline of 89% from the average daily volume of 3,598,967 shares. The stock had previously closed at $3.78.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DDD. Craig Hallum raised shares of 3D Systems from a "hold" rating to a "buy" rating and set a $6.00 price target on the stock in a report on Tuesday, August 4th. Weiss Ratings downgraded shares of 3D Systems from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.50.

3D Systems Stock Down 7.4%

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.40 and a quick ratio of 2.27. The stock has a market capitalization of $581.52 million, a PE ratio of -8.54 and a beta of 2.77. The company has a 50 day moving average price of $3.35 and a 200-day moving average price of $2.91.

3D Systems (NYSE:DDD - Get Free Report) last announced its earnings results on Monday, August 3rd. The 3D printing company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The company had revenue of $94.60 million during the quarter, compared to the consensus estimate of $94.01 million. 3D Systems had a negative return on equity of 19.56% and a negative net margin of 14.15%. As a group, analysts forecast that 3D Systems Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity at 3D Systems

In other news, CEO Jeffrey Graves sold 42,686 shares of 3D Systems stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $3.55, for a total transaction of $151,535.30. Following the sale, the chief executive officer owned 1,231,596 shares of the company's stock, valued at approximately $4,372,165.80. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.99% of the company's stock.

Hedge Funds Weigh In On 3D Systems

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its position in 3D Systems by 87.4% during the second quarter. NewEdge Advisors LLC now owns 11,873 shares of the 3D printing company's stock valued at $36,000 after buying an additional 5,538 shares during the period. J. Derek Lewis & Associates Inc. bought a new position in shares of 3D Systems in the 4th quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC lifted its position in 3D Systems by 130.8% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 30,000 shares of the 3D printing company's stock valued at $56,000 after acquiring an additional 17,000 shares during the period. WINTON GROUP Ltd bought a new stake in 3D Systems during the second quarter worth about $56,000. Finally, Headlands Technologies LLC grew its holdings in 3D Systems by 217.7% in the second quarter. Headlands Technologies LLC now owns 47,786 shares of the 3D printing company's stock worth $144,000 after purchasing an additional 32,744 shares during the period. 64.49% of the stock is owned by institutional investors.

3D Systems Company Profile

3D Systems Corporation NYSE: DDD develops and provides additive manufacturing technologies, commonly known as 3D printing. The company serves industrial and healthcare customers with systems designed to produce prototypes, production parts, models, and customized components.

Its offerings include 3D printers, printing materials, software, and related services. The company supports multiple additive manufacturing processes and materials, including polymer and metal-based technologies, and provides design, engineering, production, and healthcare solutions for applications such as aerospace, automotive, medical devices, dental products, and industrial manufacturing.

Founded in 1986 by Chuck Hull, the inventor of stereolithography, 3D Systems is widely recognized as one of the pioneers of commercial 3D printing.

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