Materialise (NASDAQ:MTLS) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Materialise NV (NASDAQ:MTLS) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $7.00 and traded as high as $8.08. Materialise shares last traded at $8.01, with a volume of 266,985 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on MTLS. Wall Street Zen downgraded shares of Materialise from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Materialise in a report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.00.

Materialise Stock Performance

The firm has a market capitalization of $497.96 million, a price-to-earnings ratio of 31.22 and a beta of 1.36. The company has a current ratio of 2.41, a quick ratio of 2.22 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $7.03 and its 200-day moving average is $6.30.

Materialise (NASDAQ:MTLS) last posted its earnings results on Friday, August 14th. The software maker reported $0.07 EPS for the quarter. Materialise had a return on equity of 5.20% and a net margin of 4.85%.The firm had revenue of $78.90 million during the quarter. On average, analysts predict that Materialise NV will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Materialise

Several large investors have recently modified their holdings of the business. QRG Capital Management Inc. bought a new position in Materialise during the 2nd quarter worth $81,000. Engineers Gate Manager LP grew its position in shares of Materialise by 175.0% in the 2nd quarter. Engineers Gate Manager LP now owns 34,723 shares of the software maker’s stock valued at $258,000 after buying an additional 22,098 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Materialise by 1,606.7% in the second quarter. NewEdge Advisors LLC now owns 26,300 shares of the software maker’s stock valued at $195,000 after buying an additional 24,759 shares during the period. AXQ Capital LP acquired a new stake in shares of Materialise in the second quarter valued at about $118,000. Finally, Pacer Advisors Inc. raised its position in shares of Materialise by 74.2% during the first quarter. Pacer Advisors Inc. now owns 8,232 shares of the software maker’s stock worth $41,000 after acquiring an additional 3,506 shares during the last quarter. Institutional investors own 19.30% of the company’s stock.

Materialise Company Profile

Materialise NV is a Belgium-based company that develops software and provides services for additive manufacturing, commonly known as 3D printing. Its solutions help organizations design, prepare, manage and produce three-dimensional parts and products across a range of industrial and healthcare applications.

The company’s offerings include additive manufacturing software, engineering and manufacturing services, and medical solutions. Its medical business provides software and services used to create patient-specific anatomical models, surgical guides, implants and other applications that support planning and treatment.