3D Systems (NYSE:DDD) Stock Price Breaks Below 200-Day Moving Average – Here’s Why

3D Systems Corporation (NYSE:DDD)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $2.79 and traded as low as $2.70. 3D Systems shares last traded at $2.78, with a volume of 2,250,954 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DDD. Craig Hallum upgraded shares of 3D Systems from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Tuesday, August 4th. Weiss Ratings downgraded shares of 3D Systems from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.50.

3D Systems Trading Down 5.1%

The firm has a 50 day simple moving average of $3.28 and a 200 day simple moving average of $2.79. The company has a current ratio of 3.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $461.90 million, a PE ratio of -6.78 and a beta of 2.77.

3D Systems (NYSE:DDD) last posted its earnings results on Monday, August 3rd. The 3D printing company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $94.60 million during the quarter, compared to the consensus estimate 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 expect that 3D Systems Corporation will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey Graves sold 115,500 shares of the firm’s 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 transaction, the chief executive officer directly owned 1,314,241 shares of the company’s stock, valued at approximately $4,284,425.66. This trade represents a 8.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. grew its stake in 3D Systems by 561.7% during the third quarter. Pinnacle Associates Ltd. now owns 2,258,048 shares of the 3D printing company’s stock valued at $8,129,000 after acquiring an additional 1,916,783 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 3D Systems by 20.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,881,311 shares of the 3D printing company’s stock worth $3,537,000 after purchasing an additional 320,427 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 3D Systems by 16.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,159,550 shares of the 3D printing company’s stock valued at $2,180,000 after purchasing an additional 161,643 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of 3D Systems during the 2nd quarter valued at about $1,221,000. Finally, Squarepoint Ops LLC purchased a new position in shares of 3D Systems during the second quarter valued at about $774,000. 64.49% of the stock is owned by hedge funds and other institutional investors.

3D Systems Company Profile

3D Systems is an additive manufacturing company that develops technologies for producing three-dimensional objects directly from digital designs. Founded in 1986 by Chuck Hull, who invented stereolithography, the company is recognized as one of the early pioneers of commercial 3D printing.

The company provides 3D printers, printing materials, software and related services. Its portfolio includes technologies such as stereolithography, selective laser sintering, direct metal printing and extrusion-based printing, along with specialized materials including photopolymers, thermoplastics and metal powders.

3D Systems serves industrial and healthcare customers in areas including aerospace, automotive, medical devices, dental products, consumer goods and manufacturing.