3D Systems (NYSE:DDD) Trading 9.2% Higher – Time to Buy?

3D Systems Corporation (NYSE:DDD)’s share price was up 9.2% during mid-day trading on Thursday . The stock traded as high as $3.43 and last traded at $3.43. 547,503 shares traded hands during trading, a decline of 85% from the average session volume of 3,660,818 shares. The stock had previously closed at $3.14.

Analyst Ratings Changes

DDD has been the subject of several recent research reports. Weiss Ratings downgraded 3D Systems from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Craig Hallum upgraded 3D Systems from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating, one has given 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 an average target price of $5.50.

3D Systems Price Performance

The company has a 50-day moving average of $3.17 and a two-hundred day moving average of $2.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.40 and a quick ratio of 2.27. The stock has a market capitalization of $601.45 million, a PE ratio of -8.83 and a beta of 2.75.

3D Systems (NYSE:DDD) last posted its quarterly earnings results on Monday, August 3rd. The 3D printing company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 company had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.01 million. Sell-side analysts predict that 3D Systems Corporation will post -0.23 EPS for the current fiscal year.

Insider Transactions at 3D Systems

In related news, CEO Jeffrey Graves sold 115,500 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $3.26, for a total value of $376,530.00. Following the completion of the sale, the chief executive officer directly owned 1,314,241 shares in the company, valued at approximately $4,284,425.66. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On 3D Systems

A number of hedge funds have recently made changes to their positions in DDD. Bank of New York Mellon Corp acquired a new position in 3D Systems in the second quarter valued at $1,221,000. Dimensional Fund Advisors LP increased its stake in 3D Systems by 20.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,881,311 shares of the 3D printing company’s stock worth $3,537,000 after acquiring an additional 320,427 shares during the last quarter. Penn Capital Management Company LLC increased its position in 3D Systems by 992.1% during the 4th quarter. Penn Capital Management Company LLC now owns 1,292,379 shares of the 3D printing company’s stock worth $2,288,000 after purchasing an additional 1,174,038 shares in the last quarter. Renaissance Technologies LLC raised its holdings in 3D Systems by 16.2% in the first quarter. Renaissance Technologies LLC now owns 1,159,550 shares of the 3D printing company’s stock valued at $2,180,000 after buying an additional 161,643 shares during the period. Finally, UBS Group AG lifted its position in 3D Systems by 83.1% during the fourth quarter. UBS Group AG now owns 2,117,975 shares of the 3D printing company’s stock valued at $3,749,000 after buying an additional 961,166 shares in the last quarter. Institutional investors and hedge funds 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.