3D Systems (NYSE:DDD) Stock Price Up 6.1% – Here’s What Happened

3D Systems Corporation (NYSE:DDD)’s stock price rose 6.1% during mid-day trading on Friday. The company traded as high as $3.66 and last traded at $3.64. 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.

Analyst Ratings Changes

DDD has been the subject of a number of research analyst reports. Weiss Ratings cut 3D Systems from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Craig Hallum raised 3D Systems from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.50.

3D Systems Stock Performance

The stock has a market capitalization of $593.16 million, a P/E ratio of -8.71 and a beta of 2.75. The company 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 current ratio of 3.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.32.

3D Systems (NYSE:DDD) last issued its earnings results 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 return on equity of 19.56% and a negative net margin of 14.15%.The business had revenue of $94.60 million during the quarter, compared to analyst estimates of $94.01 million. On average, equities analysts forecast that 3D Systems Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In other 3D Systems news, CEO Jeffrey Graves sold 42,686 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 1,231,596 shares in the company, valued at $4,372,165.80. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On 3D Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of DDD. WINTON GROUP Ltd purchased a new position in 3D Systems during the 2nd quarter valued at about $56,000. Engineers Gate Manager LP bought a new position in shares of 3D Systems in the second quarter valued at approximately $394,000. NewEdge Advisors LLC boosted its position in shares of 3D Systems by 87.4% in the second quarter. NewEdge Advisors LLC now owns 11,873 shares of the 3D printing company’s stock valued at $36,000 after acquiring an additional 5,538 shares during the period. Squarepoint Ops LLC purchased a new position in 3D Systems during the second quarter valued at approximately $774,000. Finally, Headlands Technologies LLC grew its stake in 3D Systems by 217.7% during the second quarter. Headlands Technologies LLC now owns 47,786 shares of the 3D printing company’s stock valued at $144,000 after acquiring an additional 32,744 shares in the last quarter. Institutional investors own 64.49% of the company’s stock.

About 3D Systems

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.