Zacks Investment Research cut shares of Materialise (NASDAQ:MTLS) from a hold rating to a strong sell rating in a research note published on Wednesday.

According to Zacks, “Materialise NV is a provider of Additive Manufacturing (AM) software solutions and sophisticated 3D printing services in a wide variety of industries, including healthcare, automotive, aerospace, art and design and consumer products. The Company specializes in preparation of 3D prototypes for manufactures, software development, biomedical research, and online services. It is also engaged in the development of solutions for orthopedics, biomedical software and engineering, and printing of cardiovascular models. Materialise NV is headquartered in Leuven, Belgium. “

MTLS has been the subject of a number of other research reports. Credit Suisse Group raised their price objective on shares of Materialise from $13.00 to $14.00 and gave the company an outperform rating in a report on Friday, August 11th. KeyCorp reiterated a buy rating and issued a $18.00 price objective on shares of Materialise in a report on Friday, November 10th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $20.00 price objective on shares of Materialise in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $15.40.

Shares of Materialise (NASDAQ:MTLS) traded down $0.37 during midday trading on Wednesday, reaching $13.68. 89,498 shares of the company were exchanged, compared to its average volume of 57,960. Materialise has a 1-year low of $7.25 and a 1-year high of $16.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.69.

Institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. bought a new position in Materialise during the 2nd quarter worth approximately $106,000. First Manhattan Co. bought a new position in Materialise during the 2nd quarter worth approximately $111,000. Symmetry Peak Management LLC bought a new position in Materialise during the 2nd quarter worth approximately $119,000. Gilder Gagnon Howe & Co. LLC bought a new position in Materialise during the 2nd quarter worth approximately $223,000. Finally, Private Advisor Group LLC raised its holdings in Materialise by 5.5% during the 2nd quarter. Private Advisor Group LLC now owns 18,702 shares of the software maker’s stock worth $237,000 after purchasing an additional 980 shares during the last quarter. Hedge funds and other institutional investors own 11.97% of the company’s stock.

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Materialise Company Profile

Materialise NV is a Belgium-based company engaged in the software industry. The Company is a provider of additive manufacturing software and of three dimensional (3D) printing services. Materialise NV incorporates of 3D printing experience into a range of software solution and 3D printing services, through which the Company seeks to form the backbone of the 3D printing industry.

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