Nano Dimension (NASDAQ:NNDM) Stock Passes Below 50 Day Moving Average - What's Next?

Key Points

• Nano Dimension shares fell below their 50-day moving average, trading as low as $1.49 before last changing hands at $1.52. The stock’s 50-day and 200-day averages were $1.54 and $1.62, respectively.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell (D-)” rating, and the sole analyst tracked by MarketBeat rates the stock “Sell.”
• The company beat quarterly expectations, reporting a loss of $0.03 per share versus the projected $0.07 loss and revenue of $28.96 million versus a $5.50 million estimate. Despite the beat, Nano Dimension posted a negative net margin of 135.18% and negative return on equity of 24.92%.

Nano Dimension Ltd. (NASDAQ:NNDM - Get Free Report)'s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.54 and traded as low as $1.49. Nano Dimension shares last traded at $1.52, with a volume of 1,399,368 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Nano Dimension in a report on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Nano Dimension Trading Up 1.3%

The stock has a market capitalization of $320.48 million, a P/E ratio of -3.30 and a beta of 1.02. The business's fifty day simple moving average is $1.54 and its two-hundred day simple moving average is $1.62.

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

Institutional Trading of Nano Dimension

A number of hedge funds have recently modified their holdings of NNDM. Engineers Gate Manager LP increased its holdings in Nano Dimension by 95.3% in the 2nd quarter. Engineers Gate Manager LP now owns 42,489 shares of the technology company's stock valued at $62,000 after buying an additional 20,735 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Nano Dimension during the 4th quarter worth about $42,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Nano Dimension by 392.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 19,459 shares of the technology company's stock valued at $30,000 after acquiring an additional 15,506 shares in the last quarter. Wells Fargo & Company MN raised its position in Nano Dimension by 266.1% in the fourth quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company's stock worth $29,000 after purchasing an additional 13,893 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Nano Dimension by 249.2% during the third quarter. BNP Paribas Financial Markets now owns 35,701 shares of the technology company's stock worth $56,000 after purchasing an additional 25,477 shares during the period. Institutional investors own 33.89% of the company's stock.

About Nano Dimension

Nano Dimension Ltd. NASDAQ: NNDM is a provider of advanced additive manufacturing solutions tailored for the electronics industry. Founded in 2012 and headquartered in Ness Ziona, Israel, the company develops integrated hardware, software and material platforms designed to accelerate the design and production of printed circuit boards (PCBs) and conformal electronic devices. Its flagship DragonFly printers use patented inkjet-based 3D printing technology to produce multi-layer PCB prototypes in a single build process, reducing lead times and enabling rapid design iterations.

In addition to its 3D printing systems, Nano Dimension offers a suite of proprietary conductive and dielectric inks, as well as workflow software that connects designers, engineers and manufacturers.

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