Nano Dimension (NASDAQ:NNDM) Shares Cross Below Fifty Day Moving Average – Here’s Why

Nano Dimension Ltd. (NASDAQ:NNDM) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.59 and traded as low as $1.4650. Nano Dimension shares last traded at $1.49, with a volume of 1,550,753 shares changing hands.

Wall Street Analysts Forecast Growth

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

Nano Dimension Trading Up 2.8%

The firm has a market cap of $316.57 million, a P/E ratio of -3.39 and a beta of 1.00. The company’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.72.

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

Hedge Funds Weigh In On Nano Dimension

Large investors have recently bought and sold shares of the stock. Clearline Capital LP grew its stake in shares of Nano Dimension by 19.0% in the 3rd quarter. Clearline Capital LP now owns 6,496,507 shares of the technology company’s stock worth $10,200,000 after acquiring an additional 1,035,581 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Nano Dimension during the third quarter valued at about $92,000. Cubist Systematic Strategies LLC bought a new position in shares of Nano Dimension during the first quarter valued at about $130,000. Osaic Holdings Inc. lifted its position in shares of Nano Dimension by 41.0% during the second quarter. Osaic Holdings Inc. now owns 65,184 shares of the technology company’s stock valued at $106,000 after purchasing an additional 18,951 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Nano Dimension by 72.6% during the fourth quarter. Pacer Advisors Inc. now owns 53,772 shares of the technology company’s stock worth $83,000 after purchasing an additional 22,609 shares during the last quarter. 33.89% of the stock is currently owned by institutional investors.

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.