3D Systems (NYSE:DDD) Share Price Crosses Above 200 Day Moving Average – Here’s Why

3D Systems Corporation (NYSE:DDD) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.27 and traded as high as $2.41. 3D Systems shares last traded at $2.34, with a volume of 2,787,953 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DDD. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of 3D Systems in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of 3D Systems in a research note on Friday, March 27th. Leerink Partners reaffirmed an “outperform” rating on shares of 3D Systems in a research note on Tuesday, March 10th. Finally, Wall Street Zen raised 3D Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.00.

3D Systems Stock Down 6.4%

The firm has a 50 day moving average of $2.09 and a two-hundred day moving average of $2.27. The firm has a market capitalization of $322.79 million, a price-to-earnings ratio of -221,000.00 and a beta of 2.40. The company has a quick ratio of 1.82, a current ratio of 2.87 and a debt-to-equity ratio of 0.36.

3D Systems (NYSE:DDD) last posted its earnings results on Monday, March 9th. The 3D printing company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The company had revenue of $106.30 million for the quarter, compared to the consensus estimate of $97.99 million. 3D Systems had a negative return on equity of 34.60% and a net margin of 7.72%. As a group, sell-side analysts anticipate that 3D Systems Corporation will post -0.47 EPS for the current fiscal year.

Institutional Trading of 3D Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. J. Derek Lewis & Associates Inc. bought a new stake in shares of 3D Systems during the fourth quarter worth $27,000. Prudential Financial Inc. grew its stake in shares of 3D Systems by 74.8% during the second quarter. Prudential Financial Inc. now owns 18,427 shares of the 3D printing company’s stock worth $28,000 after buying an additional 7,887 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of 3D Systems by 5,139.4% during the first quarter. NewEdge Advisors LLC now owns 13,151 shares of the 3D printing company’s stock worth $28,000 after buying an additional 12,900 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of 3D Systems during the fourth quarter worth $36,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of 3D Systems during the third quarter worth $41,000. 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.