3D Systems (NYSE:DDD) Shares Gap Up – What’s Next?

3D Systems Corporation (NYSE:DDD) gapped up prior to trading on Tuesday . The stock had previously closed at $3.28, but opened at $3.54. 3D Systems shares last traded at $3.40, with a volume of 401,828 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DDD. Weiss Ratings lowered shares of 3D Systems from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of 3D Systems in a research report on Wednesday, May 13th. Finally, Craig Hallum upgraded shares of 3D Systems from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, 3D Systems has a consensus rating of “Hold” and an average price target of $5.50.

3D Systems Stock Up 7.0%

The business’s fifty day moving average is $3.08 and its two-hundred day moving average is $2.70. The stock has a market cap of $583.19 million, a price-to-earnings ratio of -8.56 and a beta of 2.73. The company has a quick ratio of 2.27, a current ratio of 3.40 and a debt-to-equity ratio of 0.32.

3D Systems (NYSE:DDD) last released its earnings results on Monday, August 3rd. The 3D printing company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $94.60 million for the quarter, compared to analyst estimates of $94.01 million. 3D Systems had a negative net margin of 14.15% and a negative return on equity of 19.56%. Equities analysts forecast that 3D Systems Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey A. Graves sold 115,500 shares of 3D Systems stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $3.26, for a total value of $376,530.00. Following the completion of the transaction, the chief executive officer directly owned 1,314,241 shares in the company, valued at approximately $4,284,425.66. This trade represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On 3D Systems

Several large investors have recently bought and sold shares of DDD. State Street Corp raised its position in 3D Systems by 15.9% in the 4th quarter. State Street Corp now owns 11,359,707 shares of the 3D printing company’s stock valued at $20,107,000 after purchasing an additional 1,556,321 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 3D Systems by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,165,629 shares of the 3D printing company’s stock worth $4,876,000 after purchasing an additional 105,500 shares during the last quarter. Nuveen LLC grew its stake in shares of 3D Systems by 406.4% during the fourth quarter. Nuveen LLC now owns 2,704,430 shares of the 3D printing company’s stock worth $4,787,000 after purchasing an additional 2,170,415 shares in the last quarter. Icon Advisers Inc. Co. grew its stake in shares of 3D Systems by 23.8% during the third quarter. Icon Advisers Inc. Co. now owns 2,600,000 shares of the 3D printing company’s stock worth $7,540,000 after purchasing an additional 500,000 shares in the last quarter. Finally, UBS Group AG increased its holdings in 3D Systems by 83.1% in 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 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.