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

Nano Dimension Ltd. (NASDAQ:NNDM)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.51 and traded as low as $1.4601. Nano Dimension shares last traded at $1.48, with a volume of 1,363,361 shares traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NNDM. Wall Street Zen lowered Nano Dimension from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Dimension in a report on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Nano Dimension Stock Up 0.7%

The company has a market cap of $314.44 million, a price-to-earnings ratio of -3.36 and a beta of 1.00. The company has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $1.69.

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. 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 Trading of Nano Dimension

A number of large investors have recently made changes to their positions in NNDM. State Street Corp raised its stake in 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. raised its position in shares of Nano Dimension by 67.3% in the third quarter. Ameriprise Financial Inc. now owns 4,767,833 shares of the technology company’s stock valued at $7,485,000 after buying an additional 1,918,091 shares during the last quarter. Millennium Management LLC raised its position in shares of Nano Dimension by 59.5% in the fourth quarter. Millennium Management LLC now owns 2,135,600 shares of the technology company’s stock valued at $3,289,000 after buying an additional 796,253 shares during the last quarter. Man Group plc lifted its stake in shares of Nano Dimension by 133.3% during the fourth quarter. Man Group plc now owns 1,946,899 shares of the technology company’s stock valued at $2,998,000 after buying an additional 1,112,331 shares during the period. Finally, Peapod Lane Capital LLC lifted its stake in shares of Nano Dimension by 14.7% during the fourth quarter. Peapod Lane Capital LLC now owns 1,760,516 shares of the technology company’s stock valued at $2,711,000 after buying an additional 225,491 shares during the period. 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.