3D Systems (NYSE:DDD) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

3D Systems (NYSE:DDD) released its quarterly earnings data on Monday. The 3D printing company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.08, FiscalAI reports. The business had revenue of $95.50 million during the quarter, compared to analyst estimates of $92.39 million. 3D Systems had a negative return on equity of 34.60% and a net margin of 7.72%.

3D Systems Stock Up 0.4%

DDD stock traded up $0.01 during mid-day trading on Monday, hitting $2.48. The stock had a trading volume of 4,574,953 shares, compared to its average volume of 3,331,556. The stock has a market capitalization of $362.22 million, a price-to-earnings ratio of -248,000.00 and a beta of 2.58. The company has a current ratio of 2.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36. 3D Systems has a 1-year low of $1.32 and a 1-year high of $3.80. The company has a fifty day moving average of $2.13 and a 200 day moving average of $2.22.

Hedge Funds Weigh In On 3D Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in 3D Systems by 19.7% during the fourth quarter. Invesco Ltd. now owns 491,753 shares of the 3D printing company’s stock valued at $870,000 after acquiring an additional 80,966 shares in the last quarter. Tudor Investment Corp ET AL raised its position in 3D Systems by 1.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 772,424 shares of the 3D printing company’s stock valued at $1,367,000 after acquiring an additional 8,392 shares in the last quarter. Quadrature Capital Ltd bought a new position in 3D Systems during the fourth quarter valued at approximately $88,000. Balyasny Asset Management L.P. bought a new position in 3D Systems during the fourth quarter valued at approximately $88,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in 3D Systems during the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 64.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DDD. Wall Street Zen raised 3D Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price objective on shares of 3D Systems in a research note on Tuesday, March 10th. Leerink Partners reissued an “outperform” rating on shares of 3D Systems in a research note on Tuesday, March 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of 3D Systems in a research note on Friday, March 27th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, 3D Systems presently has a consensus rating of “Hold” and a consensus target price of $5.00.

About 3D Systems

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.