3D Systems (NYSE:DDD) Shares Gap Down – Here’s Why

3D Systems Co. (NYSE:DDD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.96, but opened at $3.84. 3D Systems shares last traded at $3.88, with a volume of 265,182 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Loop Capital lowered their target price on 3D Systems from $4.50 to $2.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. StockNews.com upgraded shares of 3D Systems from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Cantor Fitzgerald lowered their price target on shares of 3D Systems from $5.50 to $3.75 and set an “overweight” rating for the company in a report on Friday, August 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of 3D Systems in a research report on Thursday, December 12th. Finally, Lake Street Capital reduced their price target on 3D Systems from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.25.

3D Systems Trading Down 4.0 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.34 and a current ratio of 3.31. The business’s 50 day moving average price is $3.16 and its 200-day moving average price is $3.08. The firm has a market cap of $515.36 million, a price-to-earnings ratio of -0.99 and a beta of 1.64.

Institutional Trading of 3D Systems

A number of institutional investors and hedge funds have recently modified their holdings of DDD. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of 3D Systems by 85.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 876,987 shares of the 3D printing company’s stock worth $2,692,000 after purchasing an additional 403,175 shares during the last quarter. ARK Investment Management LLC lifted its position in 3D Systems by 6.4% in the 2nd quarter. ARK Investment Management LLC now owns 3,079,471 shares of the 3D printing company’s stock valued at $9,454,000 after purchasing an additional 185,347 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in 3D Systems during the 2nd quarter valued at about $38,000. Wealth Effects LLC increased its stake in shares of 3D Systems by 54.0% in the second quarter. Wealth Effects LLC now owns 227,900 shares of the 3D printing company’s stock valued at $700,000 after purchasing an additional 79,870 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in shares of 3D Systems during the second quarter valued at approximately $37,000. 64.49% of the stock is owned by institutional investors and hedge funds.

About 3D Systems

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.