Zacks Investment Research Downgrades Materialise (NASDAQ:MTLS) to Sell
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. “
Other analysts have also recently issued research reports about the company. BidaskClub cut Materialise from a buy rating to a hold rating in a research report on Thursday, December 31st. Piper Sandler reaffirmed a neutral rating and issued a $38.00 price target on shares of Materialise in a report on Friday, October 30th. Finally, ValuEngine lowered shares of Materialise from a buy rating to a hold rating in a report on Tuesday, December 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Materialise presently has a consensus rating of Hold and a consensus price target of $27.67.
Materialise (NASDAQ:MTLS) last issued its quarterly earnings results on Thursday, October 29th. The software maker reported ($0.01) EPS for the quarter. Materialise had a negative return on equity of 2.68% and a negative net margin of 2.06%. The company had revenue of $47.75 million during the quarter, compared to analysts’ expectations of $48.32 million. Equities analysts forecast that Materialise will post -0.11 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. BNC Wealth Management LLC purchased a new stake in Materialise in the third quarter worth about $31,000. California Public Employees Retirement System lifted its position in shares of Materialise by 2.3% in the 3rd quarter. California Public Employees Retirement System now owns 43,634 shares of the software maker’s stock worth $1,611,000 after purchasing an additional 1,000 shares during the period. Exchange Traded Concepts LLC increased its holdings in Materialise by 24.1% during the third quarter. Exchange Traded Concepts LLC now owns 11,837 shares of the software maker’s stock valued at $437,000 after buying an additional 2,295 shares during the period. Wells Fargo & Company MN increased its holdings in Materialise by 116.6% during the third quarter. Wells Fargo & Company MN now owns 9,388 shares of the software maker’s stock valued at $347,000 after buying an additional 5,054 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Materialise in the third quarter worth approximately $238,000. Hedge funds and other institutional investors own 35.47% of the company’s stock.
Materialise NV provides additive manufacturing and medical software, and 3D printing services in Europe, the Americas, Europe and Africa, and the Asia-Pacific. The company's Materialise Software segment offers software through programs and platforms that enable and enhance the functionality of 3D printers and of 3D printing operations.
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