Nano Dimension (NASDAQ:NNDM) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Shares of Nano Dimension Ltd. (NASDAQ:NNDM) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.71 and traded as low as $1.66. Nano Dimension shares last traded at $1.76, with a volume of 3,649,667 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Nano Dimension from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Nano Dimension Stock Up 2.9%

The firm has a market cap of $368.21 million, a PE ratio of -4.00 and a beta of 0.99. The firm’s 50 day moving average is $1.71 and its 200-day moving average is $1.75.

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

Hedge Funds Weigh In On Nano Dimension

Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Nano Dimension by 266.1% during the fourth quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company’s stock valued at $29,000 after buying an additional 13,893 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Nano Dimension by 392.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,459 shares of the technology company’s stock worth $30,000 after purchasing an additional 15,506 shares during the period. Lido Advisors LLC purchased a new position in Nano Dimension during the first quarter worth approximately $35,000. Merit Financial Group LLC purchased a new position in Nano Dimension during the fourth quarter worth approximately $34,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Nano Dimension during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors 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.