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

Shares of 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 $2.35 and traded as low as $2.17. Nano Dimension shares last traded at $2.21, with a volume of 941,785 shares.

Nano Dimension Stock Performance

The stock has a fifty day simple moving average of $2.35 and a 200-day simple moving average of $2.31. The stock has a market cap of $469.53 million, a P/E ratio of -5.39 and a beta of 1.45.

Hedge Funds Weigh In On Nano Dimension

A number of large investors have recently modified their holdings of the business. Alpine Global Management LLC acquired a new position in shares of Nano Dimension during the 4th quarter worth about $2,128,000. CSS LLC IL acquired a new position in shares of Nano Dimension during the 4th quarter worth about $50,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Nano Dimension by 21.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 465,856 shares of the technology company’s stock worth $1,155,000 after buying an additional 82,667 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Nano Dimension by 113.9% during the 4th quarter. Vident Advisory LLC now owns 33,920 shares of the technology company’s stock worth $84,000 after buying an additional 18,065 shares during the last quarter. Finally, Sphera Management Technology Funds Ltd acquired a new position in shares of Nano Dimension during the 4th quarter worth about $1,121,000. 33.89% of the stock is currently owned by institutional investors and hedge funds.

About Nano Dimension

Nano Dimension Ltd., together with its subsidiaries, engages in additive manufacturing solutions in Israel and internationally. The company offers 3D printers, comprising AME systems, which are inkjet printers, that produces Hi-PEDs by depositing proprietary conductive and dielectric substances, as well as integrates in-situ capacitors, antennas, coils, transformers, and electromechanical components; micro additive manufacturing systems, a digital light processing printers (DLP) that achieves production-grade polymer and composite parts; and industrial additive manufacturing systems, that utilizes a patented foil system that fabricates ceramic and metal parts.