3D Systems (NYSE:DDD) Trading 8.1% Higher – Here’s What Happened

Shares of 3D Systems Co. (NYSE:DDD) were up 8.1% during mid-day trading on Thursday . The company traded as high as $4.65 and last traded at $4.63. Approximately 1,426,100 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 2,902,342 shares. The stock had previously closed at $4.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DDD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 3D Systems in a research report on Saturday, February 1st. Craig Hallum upgraded shares of 3D Systems to a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC reiterated a “hold” rating on shares of 3D Systems in a research note on Wednesday, January 15th. Finally, StockNews.com raised shares of 3D Systems from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, 3D Systems currently has an average rating of “Hold” and an average price target of $3.25.

3D Systems Stock Up 9.0 %

The company has a market cap of $632.67 million, a PE ratio of -1.17 and a beta of 1.63. The stock has a 50-day moving average of $3.57 and a 200-day moving average of $3.08. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.97.

3D Systems (NYSE:DDD) last announced its earnings results on Tuesday, November 26th. The 3D printing company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). 3D Systems had a negative net margin of 117.65% and a negative return on equity of 26.72%. Sell-side analysts predict that 3D Systems Co. will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey A. Graves acquired 60,000 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $3.85 per share, for a total transaction of $231,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,091,782 shares in the company, valued at approximately $4,203,360.70. This represents a 5.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Charles W. Hull sold 115,971 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $3.86, for a total value of $447,648.06. Following the sale, the executive vice president now owns 331,955 shares of the company’s stock, valued at $1,281,346.30. This represents a 25.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DDD. SG Americas Securities LLC raised its holdings in 3D Systems by 23.8% in the 3rd quarter. SG Americas Securities LLC now owns 45,617 shares of the 3D printing company’s stock worth $130,000 after purchasing an additional 8,769 shares in the last quarter. Inspire Investing LLC raised its position in shares of 3D Systems by 33.7% in the 3rd quarter. Inspire Investing LLC now owns 15,138 shares of the 3D printing company’s stock worth $43,000 after acquiring an additional 3,818 shares in the last quarter. Creative Planning purchased a new stake in 3D Systems in the third quarter worth $43,000. Inspire Advisors LLC raised its holdings in 3D Systems by 40.1% in the third quarter. Inspire Advisors LLC now owns 65,808 shares of the 3D printing company’s stock worth $187,000 after purchasing an additional 18,848 shares in the last quarter. Finally, Wealth Effects LLC increased its stake in shares of 3D Systems by 44.7% in the 3rd quarter. Wealth Effects LLC now owns 329,820 shares of the 3D printing company’s stock worth $937,000 after acquiring an additional 101,920 shares in the last quarter. Hedge funds and other institutional investors own 64.49% of the company’s stock.

About 3D Systems

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.