Nano Dimension (NASDAQ:NNDM) Share Price Passes Below 50-Day Moving Average – What’s Next?

Nano Dimension Ltd. (NASDAQ:NNDM)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.59 and traded as low as $1.4650. Nano Dimension shares last traded at $1.49, with a volume of 1,550,753 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Nano Dimension from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Nano Dimension presently has a consensus rating of “Sell”.

Nano Dimension Stock Performance

The stock has a market capitalization of $308.07 million, a P/E ratio of -3.30 and a beta of 1.00. The company has a 50-day moving average price of $1.58 and a 200 day moving average price of $1.72.

Nano Dimension (NASDAQ:NNDM) last issued its quarterly earnings data on Friday, May 8th. The technology company reported ($0.34) earnings per share for the quarter. The company had revenue of $29.73 million for the quarter. Nano Dimension had a negative return on equity of 22.07% and a negative net margin of 286.72%.

Institutional Investors Weigh In On Nano Dimension

Several institutional investors have recently bought and sold shares of NNDM. State Street Corp raised its position in shares of Nano Dimension by 2,278.5% in the 4th quarter. State Street Corp now owns 10,362,517 shares of the technology company’s stock valued at $15,958,000 after purchasing an additional 9,926,849 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Nano Dimension by 67.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,767,833 shares of the technology company’s stock worth $7,485,000 after purchasing an additional 1,918,091 shares in the last quarter. Man Group plc grew its position in Nano Dimension by 133.3% during the 4th quarter. Man Group plc now owns 1,946,899 shares of the technology company’s stock worth $2,998,000 after purchasing an additional 1,112,331 shares during the last quarter. Clearline Capital LP grew its position in Nano Dimension by 19.0% during the 3rd quarter. Clearline Capital LP now owns 6,496,507 shares of the technology company’s stock worth $10,200,000 after purchasing an additional 1,035,581 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Nano Dimension by 59.5% during the 4th quarter. Millennium Management LLC now owns 2,135,600 shares of the technology company’s stock valued at $3,289,000 after purchasing an additional 796,253 shares in the last quarter. 33.89% of the stock is currently owned by institutional investors and hedge funds.

About Nano Dimension

Nano Dimension Ltd. (NASDAQ: NNDM) is a provider of advanced additive manufacturing solutions tailored for the electronics industry. Founded in 2012 and headquartered in Ness Ziona, Israel, the company develops integrated hardware, software and material platforms designed to accelerate the design and production of printed circuit boards (PCBs) and conformal electronic devices. Its flagship DragonFly printers use patented inkjet-based 3D printing technology to produce multi-layer PCB prototypes in a single build process, reducing lead times and enabling rapid design iterations.

In addition to its 3D printing systems, Nano Dimension offers a suite of proprietary conductive and dielectric inks, as well as workflow software that connects designers, engineers and manufacturers.