Materialise (NASDAQ:MTLS) Share Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Materialise shares rose above their 50-day moving average, reaching $8.56 and last trading at $8.50, compared with a 50-day average of $7.37.
• Analyst sentiment is moderately bullish: two analysts rate the stock Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and a $10.00 price target.
• The company reported quarterly EPS of $0.07 on $78.9 million in revenue, while institutional ownership stands at 19.3% and several investors recently increased or initiated positions.

Materialise NV (NASDAQ:MTLS - Get Free Report)'s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $7.37 and traded as high as $8.56. Materialise shares last traded at $8.50, with a volume of 118,431 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MTLS shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Materialise in a report on Thursday, August 27th. DA Davidson initiated coverage on Materialise in a report on Tuesday, September 29th. They set a "buy" rating on the stock. Finally, Wall Street Zen cut shares of Materialise from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Materialise presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

Materialise Stock Down 0.7%

The company has a current ratio of 2.41, a quick ratio of 2.22 and a debt-to-equity ratio of 0.18. The company has a 50-day simple moving average of $7.37 and a 200 day simple moving average of $6.50. The company has a market cap of $502.10 million, a P/E ratio of 31.48 and a beta of 1.33.

Materialise (NASDAQ:MTLS - Get Free Report) last issued its earnings results on Friday, August 14th. The software maker reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $78.90 million during the quarter. Materialise had a net margin of 4.85% and a return on equity of 5.20%. On average, equities analysts anticipate that Materialise NV will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTLS. Pacer Advisors Inc. boosted its stake in shares of Materialise by 74.2% during the 1st quarter. Pacer Advisors Inc. now owns 8,232 shares of the software maker's stock worth $41,000 after acquiring an additional 3,506 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Materialise in the 2nd quarter valued at about $81,000. Granite Investment Partners LLC purchased a new position in shares of Materialise in the 1st quarter valued at about $58,000. AXQ Capital LP acquired a new position in Materialise in the 2nd quarter worth about $118,000. Finally, Engineers Gate Manager LP boosted its position in Materialise by 175.0% during the second quarter. Engineers Gate Manager LP now owns 34,723 shares of the software maker's stock worth $258,000 after purchasing an additional 22,098 shares in the last quarter. 19.30% of the stock is currently owned by hedge funds and other institutional investors.

Materialise Company Profile

Materialise NV is a Belgium-based technology company that develops software and provides services for additive manufacturing, commonly known as 3D printing. Its solutions support the design, preparation, management and production of three-dimensional parts and devices across healthcare, manufacturing and other industrial applications.

The company's software portfolio includes platforms and applications for preparing 3D-printing files, processing medical imaging data, creating anatomical models and managing production workflows.

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