3D Systems (NYSE:DDD) Trading 12.4% Higher – Here’s What Happened

3D Systems Corporation (NYSE:DDD)’s stock price shot up 12.4% during mid-day trading on Tuesday . The stock traded as high as $3.59 and last traded at $3.54. 5,402,562 shares traded hands during trading, an increase of 48% from the average session volume of 3,661,562 shares. The stock had previously closed at $3.15.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DDD. Leerink Partners restated an “outperform” rating on shares of 3D Systems in a report on Tuesday, March 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of 3D Systems in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of 3D Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of 3D Systems in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

3D Systems Trading Down 0.6%

The company has a market capitalization of $517.26 million, a PE ratio of 14.08 and a beta of 2.58. The company has a 50 day simple moving average of $2.38 and a 200 day simple moving average of $2.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.73 and a current ratio of 2.76.

3D Systems (NYSE:DDD) last announced its quarterly earnings data on Monday, May 11th. The 3D printing company reported ($0.01) earnings per share (EPS) for the quarter, beating 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 analyst estimates of $92.39 million. Analysts anticipate that 3D Systems Corporation will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DDD. Capital World Investors purchased a new stake in 3D Systems during the 3rd quarter worth about $15,104,000. Nuveen LLC lifted its position in shares of 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 buying an additional 2,170,415 shares during the last quarter. State Street Corp lifted its position in shares of 3D Systems by 15.9% during the 4th quarter. State Street Corp now owns 11,359,707 shares of the 3D printing company’s stock worth $20,107,000 after buying an additional 1,556,321 shares during the last quarter. Marshall Wace LLP lifted its position in shares of 3D Systems by 596.7% during the 4th quarter. Marshall Wace LLP now owns 1,799,804 shares of the 3D printing company’s stock worth $3,186,000 after buying an additional 1,541,475 shares during the last quarter. Finally, Penn Capital Management Company LLC lifted its holdings in shares of 3D Systems by 992.1% in the 4th quarter. Penn Capital Management Company LLC now owns 1,292,379 shares of the 3D printing company’s stock valued at $2,288,000 after purchasing an additional 1,174,038 shares during the last quarter. Hedge funds and other 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.