3D Systems (NYSE:DDD) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

3D Systems Corporation (NYSE:DDD) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.20 and traded as high as $2.83. 3D Systems shares last traded at $2.79, with a volume of 2,684,815 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on DDD shares. Weiss Ratings reiterated a “sell (d)” rating on shares of 3D Systems in a research report on Friday, March 27th. Leerink Partners reiterated an “outperform” rating on shares of 3D Systems in a research report on Tuesday, March 10th. Wall Street Zen upgraded 3D Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of 3D Systems in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.00.

3D Systems Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.73 and a current ratio of 2.76. The firm has a market capitalization of $409.99 million, a P/E ratio of 11.16 and a beta of 2.58. The company has a 50-day moving average price of $2.28 and a 200-day moving average price of $2.20.

3D Systems (NYSE:DDD) last posted its quarterly earnings results on Monday, May 11th. The 3D printing company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.08. 3D Systems had a negative return on equity of 19.64% and a net margin of 16.10%.The business had revenue of $95.50 million for the quarter, compared to analyst estimates of $92.39 million. On average, sell-side analysts predict that 3D Systems Corporation will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in 3D Systems by 16.2% during the first quarter. Renaissance Technologies LLC now owns 1,159,550 shares of the 3D printing company’s stock worth $2,180,000 after acquiring an additional 161,643 shares in the last quarter. GC Wealth Management RIA LLC bought a new position in 3D Systems during the first quarter worth about $86,000. Dimensional Fund Advisors LP lifted its holdings in 3D Systems by 20.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,881,311 shares of the 3D printing company’s stock worth $3,537,000 after acquiring an additional 320,427 shares in the last quarter. Hsbc Holdings PLC bought a new position in 3D Systems during the first quarter worth about $120,000. Finally, PFG Investments LLC lifted its holdings in 3D Systems by 91.4% during the first quarter. PFG Investments LLC now owns 159,175 shares of the 3D printing company’s stock worth $299,000 after acquiring an additional 75,990 shares in the last quarter. 64.49% of the stock is currently owned by institutional investors.

About 3D Systems

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.