3D Systems (NYSE:DDD) Stock Jumps 6.1% - Here's What Happened

Key Points

• 3D Systems shares rose 6.1% to $3.64 in Friday trading, although volume was 65% below the average session level.
• Craig Hallum upgraded the stock to “buy” with a $6 price target, while the broader analyst consensus remains “Hold” with an average target of $5.50.
• The company beat quarterly expectations, reporting a loss of $0.04 per share versus the anticipated $0.06 loss and revenue of $94.6 million; however, it remains unprofitable, with a negative net margin of 14.15%.

3D Systems Corporation (NYSE:DDD - Get Free Report) shares shot up 6.1% during trading on Friday. The stock traded as high as $3.66 and last traded at $3.64. Approximately 1,263,360 shares were traded during mid-day trading, a decline of 65% from the average session volume of 3,645,595 shares. The stock had previously closed at $3.43.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DDD. Craig Hallum raised 3D Systems from a "hold" rating to a "buy" rating and set a $6.00 price target for the company in a report on Tuesday, August 4th. Weiss Ratings cut 3D Systems from a "sell (d+)" rating to a "sell (d-)" rating in a report on Tuesday, August 4th. Three 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's stock. According to data from MarketBeat.com, 3D Systems currently has a consensus rating of "Hold" and an average price target of $5.50.

3D Systems Stock Performance

The company has a current ratio of 3.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $3.24 and a two-hundred day moving average price of $2.86. The company has a market cap of $593.16 million, a price-to-earnings ratio of -8.71 and a beta of 2.75.

3D Systems (NYSE:DDD - Get Free Report) last released its quarterly earnings data 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. 3D Systems had a negative net margin of 14.15% and a negative return on equity of 19.56%. The business had revenue of $94.60 million during the quarter, compared to analysts' expectations of $94.01 million. Analysts predict that 3D Systems Corporation will post -0.23 EPS for the current year.

Insider Transactions at 3D Systems

In other news, CEO Jeffrey Graves sold 42,686 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $3.55, for a total value of $151,535.30. Following the completion of the sale, the chief executive officer owned 1,231,596 shares of the company's stock, valued at approximately $4,372,165.80. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.99% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DDD. Dimensional Fund Advisors LP increased its stake in 3D Systems by 20.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,881,311 shares of the 3D printing company's stock worth $3,537,000 after acquiring an additional 320,427 shares during the period. Renaissance Technologies LLC lifted its position in shares of 3D Systems by 16.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,159,550 shares of the 3D printing company's stock valued at $2,180,000 after acquiring an additional 161,643 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of 3D Systems during the 2nd quarter worth $1,221,000. Squarepoint Ops LLC bought a new position in shares of 3D Systems in the second quarter worth $774,000. Finally, Engineers Gate Manager LP bought a new position in shares of 3D Systems in the second quarter worth $394,000. 64.49% of the stock is owned by institutional investors.

3D Systems Company Profile

3D Systems Corporation NYSE: DDD develops and provides additive manufacturing, commonly known as 3D printing, technologies for industrial and healthcare applications. The company offers 3D printers, printing materials, software, design and production services, and related support to help customers move from product development and prototyping to production.

Its solutions serve industries including aerospace and defense, automotive, healthcare, dental, consumer products, and general manufacturing.

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