3D Systems (NYSE:DDD) Shares Up 11.9% – Here’s Why

3D Systems Corporation (NYSE:DDD) traded up 11.9% during mid-day trading on Wednesday . The stock traded as high as $3.60 and last traded at $3.57. 1,151,631 shares changed hands during trading, a decline of 71% from the average session volume of 4,027,762 shares. The stock had previously closed at $3.19.

Analyst Upgrades and Downgrades

DDD has been the subject of a number of analyst reports. Wall Street Zen raised shares of 3D Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 target price on shares of 3D Systems in a report on Wednesday, May 13th. Leerink Partners reaffirmed an “outperform” rating on shares of 3D Systems in a report on Tuesday, March 10th. Finally, Weiss Ratings upgraded shares of 3D Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, 3D Systems currently has an average rating of “Hold” and an average price target of $5.00.

3D Systems Trading Up 2.3%

The business has a 50 day moving average of $2.77 and a two-hundred day moving average of $2.35. The firm has a market cap of $518.73 million, a P/E ratio of 14.12 and a beta of 2.71. The company has a current ratio of 2.76, a quick ratio of 1.73 and a debt-to-equity ratio of 0.37.

3D Systems (NYSE:DDD) last released its quarterly earnings data on Monday, May 11th. The 3D printing company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. 3D Systems had a net margin of 16.10% and a negative return on equity of 19.64%. The firm had revenue of $95.50 million during the quarter, compared to analysts’ expectations of $92.39 million. Analysts predict that 3D Systems Corporation will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DDD. State Street Corp increased its holdings in shares of 3D Systems by 15.9% during the fourth quarter. State Street Corp now owns 11,359,707 shares of the 3D printing company’s stock worth $20,107,000 after purchasing an additional 1,556,321 shares during the period. Capital World Investors acquired a new stake in 3D Systems during the third quarter worth approximately $15,104,000. Geode Capital Management LLC grew its position in 3D Systems by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,165,629 shares of the 3D printing company’s stock worth $4,876,000 after buying an additional 105,500 shares in the last quarter. Nuveen LLC increased its stake in 3D Systems by 406.4% during the 4th quarter. Nuveen LLC now owns 2,704,430 shares of the 3D printing company’s stock worth $4,787,000 after acquiring an additional 2,170,415 shares during the period. Finally, Icon Advisers Inc. Co. increased its stake in 3D Systems by 23.8% during the 3rd quarter. Icon Advisers Inc. Co. now owns 2,600,000 shares of the 3D printing company’s stock worth $7,540,000 after acquiring an additional 500,000 shares during the period. 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.