Needham & Company LLC Reaffirms “Hold” Rating for 3D Systems (NYSE:DDD)

3D Systems (NYSE:DDD)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Lake Street Capital cut their price objective on 3D Systems from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. StockNews.com downgraded 3D Systems from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Cantor Fitzgerald dropped their price target on 3D Systems from $5.50 to $3.75 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Loop Capital cut their price objective on 3D Systems from $4.50 to $2.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.25.

3D Systems Price Performance

NYSE:DDD opened at $2.97 on Friday. 3D Systems has a 52-week low of $1.72 and a 52-week high of $6.85. The company has a quick ratio of 2.42, a current ratio of 3.46 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $2.89 and its 200 day moving average price is $3.15.

3D Systems (NYSE:DDD) last released its earnings results on Thursday, August 29th. The 3D printing company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). 3D Systems had a negative return on equity of 15.29% and a negative net margin of 78.14%. The business had revenue of $113.25 million during the quarter, compared to the consensus estimate of $125.15 million. As a group, sell-side analysts predict that 3D Systems will post -0.67 EPS for the current fiscal year.

Institutional Trading of 3D Systems

Several hedge funds and other institutional investors have recently modified their holdings of DDD. ARK Investment Management LLC boosted its position in 3D Systems by 26.0% during the 3rd quarter. ARK Investment Management LLC now owns 3,878,628 shares of the 3D printing company’s stock worth $11,015,000 after acquiring an additional 799,157 shares during the period. Walleye Capital LLC boosted its holdings in shares of 3D Systems by 3,140.9% during the third quarter. Walleye Capital LLC now owns 508,951 shares of the 3D printing company’s stock worth $1,445,000 after purchasing an additional 525,688 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in 3D Systems by 85.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 876,987 shares of the 3D printing company’s stock valued at $2,692,000 after purchasing an additional 403,175 shares in the last quarter. Weiss Asset Management LP acquired a new position in 3D Systems in the 3rd quarter valued at approximately $1,143,000. Finally, XTX Topco Ltd lifted its position in 3D Systems by 1,844.0% in the 3rd quarter. XTX Topco Ltd now owns 359,817 shares of the 3D printing company’s stock worth $1,022,000 after buying an additional 341,308 shares in the last quarter. Institutional investors and hedge funds own 64.49% of the company’s stock.

3D Systems Company Profile

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.