Nano Dimension (NASDAQ:NNDM) Shares Cross Below 50-Day Moving Average – Here’s Why

Nano Dimension Ltd. (NASDAQ:NNDM) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.52 and traded as low as $1.47. Nano Dimension shares last traded at $1.55, with a volume of 2,386,175 shares.

Analyst Ratings Changes

A number of brokerages have commented on NNDM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Dimension in a report on Monday, July 6th. Wall Street Zen downgraded Nano Dimension from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Nano Dimension Price Performance

The business’s fifty day simple moving average is $1.52 and its 200 day simple moving average is $1.70. The stock has a market cap of $329.31 million, a price-to-earnings ratio of -3.52 and a beta of 1.00.

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

Institutional Investors Weigh In On Nano Dimension

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. increased its position in Nano Dimension by 73.7% in the first quarter. Pacer Advisors Inc. now owns 93,397 shares of the technology company’s stock worth $159,000 after buying an additional 39,625 shares during the period. Lido Advisors LLC acquired a new position in shares of Nano Dimension during the first quarter valued at $35,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Nano Dimension by 1,053.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 45,605 shares of the technology company’s stock valued at $70,000 after acquiring an additional 41,652 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Nano Dimension during the fourth quarter worth about $42,000. Finally, Engineers Gate Manager LP grew its position in shares of Nano Dimension by 108.5% during the fourth quarter. Engineers Gate Manager LP now owns 31,641 shares of the technology company’s stock worth $49,000 after acquiring an additional 16,469 shares during the last quarter. Institutional investors and hedge funds own 33.89% of the company’s stock.

Nano Dimension Company Profile

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.