Nano Dimension (NASDAQ:NNDM) Shares Break Below 50 Day Moving Average - Here's Why

Key Points

• Nano Dimension shares fell below their 50-day moving average, trading as low as $1.40 and closing near $1.41, below the $1.56 average.
• Analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (D-)” rating, and the stock has an overall MarketBeat consensus rating of “Sell.”
• The company beat quarterly EPS expectations, reporting a loss of $0.03 per share versus estimates of a $0.07 loss, while revenue reached $28.96 million; however, Nano Dimension still posted a negative net margin of 135.18%.

Nano Dimension Ltd. (NASDAQ:NNDM - Get Free Report) shares crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $1.56 and traded as low as $1.40. Nano Dimension shares last traded at $1.41, with a volume of 1,455,855 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Dimension in a report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to MarketBeat, Nano Dimension has an average rating of "Sell".

Nano Dimension Price Performance

The firm has a market cap of $297.28 million, a PE ratio of -3.07 and a beta of 0.99. The company has a 50 day simple moving average of $1.56 and a 200-day simple moving average of $1.58.

Nano Dimension (NASDAQ:NNDM - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. The company had revenue of $28.96 million for the quarter, compared to analyst estimates of $5.50 million. Nano Dimension had a negative net margin of 135.18% and a negative return on equity of 24.92%.

Hedge Funds Weigh In On Nano Dimension

A number of hedge funds have recently modified their holdings of NNDM. Tidal Investments LLC increased its holdings in Nano Dimension by 164.1% during the 2nd quarter. Tidal Investments LLC now owns 674,642 shares of the technology company's stock valued at $978,000 after purchasing an additional 419,208 shares during the period. Marquette Asset Management LLC purchased a new position in shares of Nano Dimension during the 2nd quarter worth approximately $289,000. Pacer Advisors Inc. grew its holdings in shares of Nano Dimension by 73.7% during the 1st quarter. Pacer Advisors Inc. now owns 93,397 shares of the technology company's stock worth $159,000 after acquiring an additional 39,625 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Nano Dimension by 1,053.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 45,605 shares of the technology company's stock valued at $70,000 after purchasing an additional 41,652 shares during the period. Finally, Engineers Gate Manager LP boosted its holdings in Nano Dimension by 95.3% in the second quarter. Engineers Gate Manager LP now owns 42,489 shares of the technology company's stock worth $62,000 after acquiring an additional 20,735 shares in the last quarter. Hedge funds and other institutional investors own 33.89% of the company's stock.

Nano Dimension Company Profile

Nano Dimension Ltd. NASDAQ: NNDM is an additive manufacturing company that develops systems for producing electronic and industrial components. Its technologies are designed to support the digital fabrication of complex parts, including printed circuit boards, electronic circuitry, and other components used in specialized manufacturing and research applications.

The company's product portfolio has included the DragonFly platform, which is designed for the additive manufacturing of electronic circuitry, and the Fabrica line of high-resolution micro 3D printing systems.

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