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 Thursday . The stock has a 50 day moving average of $2.27 and traded as low as $2.17. Nano Dimension shares last traded at $2.20, with a volume of 931,930 shares trading hands.

Nano Dimension Stock Performance

The stock has a market cap of $454.66 million, a price-to-earnings ratio of -3.45 and a beta of 1.67. The company has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $2.34.

Nano Dimension (NASDAQ:NNDM) last announced its quarterly earnings results on Tuesday, August 20th. The technology company reported ($0.20) EPS for the quarter. The firm had revenue of $14.99 million during the quarter. Nano Dimension had a negative net margin of 266.36% and a negative return on equity of 15.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank raised its holdings in Nano Dimension by 5.1% in the 1st quarter. Swiss National Bank now owns 455,500 shares of the technology company’s stock valued at $1,269,000 after acquiring an additional 22,200 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Nano Dimension during the first quarter worth approximately $631,000. Shell Asset Management Co. acquired a new stake in Nano Dimension during the 1st quarter worth approximately $882,000. Murchinson Ltd. grew its holdings in Nano Dimension by 23.9% in the 1st quarter. Murchinson Ltd. now owns 15,550,000 shares of the technology company’s stock valued at $43,307,000 after buying an additional 3,000,000 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Nano Dimension by 10.7% during the 1st quarter. California State Teachers Retirement System now owns 234,586 shares of the technology company’s stock worth $653,000 after buying an additional 22,580 shares during the period. 33.89% of the stock is currently owned by institutional investors.

Nano Dimension Company Profile

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.