Materialise NV (NASDAQ:MTLS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Materialise NV is a provider of Additive Manufacturing (AM) software solutions and sophisticated 3D printing services in a wide variety of industries, including healthcare, automotive, aerospace, art and design and consumer products. The Company specializes in preparation of 3D prototypes for manufactures, software development, biomedical research, and online services. It is also engaged in the development of solutions for orthopedics, biomedical software and engineering, and printing of cardiovascular models. Materialise NV is headquartered in Leuven, Belgium. “

A number of other research firms have also recently issued reports on MTLS. BidaskClub upgraded shares of Materialise NV from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies lifted their target price on shares of Materialise NV to $18.50 and gave the company an “overweight” rating in a research note on Monday, July 31st. TheStreet upgraded shares of Materialise NV from a “d+” rating to a “c” rating in a research note on Monday, June 26th. Finally, Credit Suisse Group lifted their target price on shares of Materialise NV from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Five research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $14.38.

Materialise NV (NASDAQ:MTLS) traded down 0.91% during trading on Wednesday, reaching $13.12. 15,857 shares of the company’s stock were exchanged. The stock’s market capitalization is $620.90 million. The company’s 50 day moving average price is $13.55 and its 200-day moving average price is $11.64. Materialise NV has a 52 week low of $6.28 and a 52 week high of $15.74.

Materialise NV (NASDAQ:MTLS) last posted its quarterly earnings results on Tuesday, August 8th. The software maker reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.01. The company had revenue of $33.61 million for the quarter, compared to analyst estimates of $31.90 million. Materialise NV had a negative return on equity of 1.59% and a negative net margin of 0.99%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share. On average, equities analysts expect that Materialise NV will post ($0.02) EPS for the current year.

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A number of hedge funds have recently made changes to their positions in MTLS. LA Financiere DE L Echiquier bought a new position in Materialise NV during the second quarter worth $3,724,000. Royce & Associates LP increased its holdings in Materialise NV by 122.8% in the 1st quarter. Royce & Associates LP now owns 439,000 shares of the software maker’s stock valued at $3,995,000 after buying an additional 242,000 shares during the period. Columbus Circle Investors bought a new stake in Materialise NV in the 2nd quarter valued at $2,014,000. ARK Investment Management LLC increased its holdings in Materialise NV by 62.3% in the 2nd quarter. ARK Investment Management LLC now owns 269,748 shares of the software maker’s stock valued at $3,202,000 after buying an additional 103,542 shares during the period. Finally, UBS Group AG increased its holdings in Materialise NV by 11,860.8% in the 1st quarter. UBS Group AG now owns 78,702 shares of the software maker’s stock valued at $716,000 after buying an additional 78,044 shares during the period. 10.86% of the stock is currently owned by institutional investors and hedge funds.

About Materialise NV

Materialise NV is a Belgium-based company engaged in the software industry. The Company is a provider of additive manufacturing software and of three dimensional (3D) printing services. Materialise NV incorporates of 3D printing experience into a range of software solution and 3D printing services, through which the Company seeks to form the backbone of the 3D printing industry.

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