3D Systems (NYSE:DDD) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

3D Systems Corporation (NYSE:DDD)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.38 and traded as high as $3.13. 3D Systems shares last traded at $2.99, with a volume of 2,988,491 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on DDD. Leerink Partners reiterated an “outperform” rating on shares of 3D Systems in a report on Tuesday, March 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of 3D Systems in a report on Wednesday, May 13th. Wall Street Zen raised shares of 3D Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings raised shares of 3D Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

3D Systems Price Performance

The stock has a market cap of $439.38 million, a P/E ratio of 11.96 and a beta of 2.71. The firm has a 50-day moving average price of $2.87 and a 200-day moving average price of $2.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.73 and a current ratio of 2.76.

3D Systems (NYSE:DDD) last released its earnings results on Monday, May 11th. The 3D printing company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $95.50 million during the quarter, compared to analysts’ expectations of $92.39 million. On average, analysts forecast that 3D Systems Corporation will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of 3D Systems

Hedge funds have recently modified their holdings of the business. Capital World Investors purchased a new stake in shares of 3D Systems in the 3rd quarter worth about $15,104,000. Nuveen LLC lifted its position in 3D Systems by 406.4% during the 4th quarter. Nuveen LLC now owns 2,704,430 shares of the 3D printing company’s stock valued at $4,787,000 after acquiring an additional 2,170,415 shares during the period. State Street Corp lifted its position in 3D Systems by 15.9% during the 4th quarter. State Street Corp now owns 11,359,707 shares of the 3D printing company’s stock valued at $20,107,000 after acquiring an additional 1,556,321 shares during the period. Marshall Wace LLP boosted its stake in 3D Systems by 596.7% during the fourth quarter. Marshall Wace LLP now owns 1,799,804 shares of the 3D printing company’s stock worth $3,186,000 after acquiring an additional 1,541,475 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its holdings in 3D Systems by 992.1% in the fourth quarter. Penn Capital Management Company LLC now owns 1,292,379 shares of the 3D printing company’s stock worth $2,288,000 after purchasing an additional 1,174,038 shares during the period. Institutional investors own 64.49% of the company’s stock.

3D Systems Company Profile

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.