3D Systems (NYSE:DDD) Shares Gap Up - Here's Why

Key Points

• 3D Systems shares opened sharply higher, rising from a prior close of $3.28 to $3.54 before later trading at $3.40.
• Analyst views remain mixed: Craig Hallum upgraded the stock to “buy” with a $6 target, while Weiss Ratings downgraded it to “sell.” The consensus rating is “Hold,” with an average price target of $5.50.
• The company beat quarterly expectations, reporting a loss of $0.04 per share versus the estimated $0.06 loss and revenue of $94.6 million versus $94.01 million expected. However, CEO Jeffrey A. Graves recently sold 115,500 shares at an average price of $3.26.

3D Systems Corporation (NYSE:DDD - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.28, but opened at $3.54. 3D Systems shares last traded at $3.40, with a volume of 401,828 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DDD shares. Weiss Ratings lowered 3D Systems from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Craig Hallum raised shares of 3D Systems from a "hold" rating to a "buy" rating and set a $6.00 target price on the stock in a research note on Tuesday, August 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $5.00 target price on shares of 3D Systems in a report on Wednesday, May 13th. 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 company. According to MarketBeat, 3D Systems currently has an average rating of "Hold" and an average price target of $5.50.

3D Systems Stock Performance

The stock has a market cap of $583.19 million, a price-to-earnings ratio of -8.56 and a beta of 2.73. 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 firm has a fifty day moving average of $3.08 and a 200 day moving average of $2.70.

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

Insider Transactions at 3D Systems

In other 3D Systems news, CEO Jeffrey A. Graves sold 115,500 shares of 3D Systems stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $3.26, for a total transaction of $376,530.00. Following the transaction, the chief executive officer directly owned 1,314,241 shares of the company's stock, valued at $4,284,425.66. The trade was a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.99% of the company's stock.

Institutional Trading of 3D Systems

Several hedge funds have recently made changes to their positions in DDD. Royal Bank of Canada lifted its holdings in 3D Systems by 7.7% in the first quarter. Royal Bank of Canada now owns 1,529,217 shares of the 3D printing company's stock valued at $3,242,000 after acquiring an additional 109,467 shares during the last quarter. AQR Capital Management LLC purchased a new stake in 3D Systems in the first quarter valued at $205,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of 3D Systems in the 1st quarter valued at $143,000. NewEdge Advisors LLC grew its holdings in shares of 3D Systems by 5,139.4% during the 1st quarter. NewEdge Advisors LLC now owns 13,151 shares of the 3D printing company's stock worth $28,000 after purchasing an additional 12,900 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of 3D Systems during the 1st quarter worth $205,000. Hedge funds and other institutional investors own 64.49% of the company's stock.

3D Systems Company Profile

3D Systems, founded in 1986 by stereolithography pioneer Chuck Hull, is a leading provider of additive manufacturing solutions. Headquartered in Rock Hill, South Carolina, the company develops and sells a broad range of 3D printers, materials, software, and on-demand manufacturing services. Its core technologies include stereolithography (SLA), selective laser sintering (SLS), direct metal printing (DMP), and multi-jet printing (MJP), enabling customers to build prototypes, production parts, and complex geometries across a variety of industries.

The company's hardware portfolio spans desktop to production-scale systems designed for applications in aerospace, automotive, healthcare, consumer products, and education.

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