While 3D Systems’ (NYSE:DDD) stock has been in freefall over the last year and a half, the company looks to concentrate their efforts more on the business side of 3D printing as they’ve announced that they will be discontinuing their entry-level consumer-oriented Cubify line of 3D printers. The machines which were meant for household use never really were able to gain traction in the highly competitive consumer space. As we’ve seen in the past, the consumer segment of the 3D printing space is not an easy area to make money in.
“The move reflects management’s plans to focus its resources and strategic initiatives on near-term opportunities and profitability,” 3DS explained this morning.
The company will also be retiring its Cubify platform, which catered as well to the consumer market for 3D designs. The stock is down 6.76% or $0.71 following the news, hitting $9.79 per share. Approximately 2.73M shares traded hands. DDD shares have declined 52.19% since May 22, 2015 and are currently downtrending. It has underperformed the S&P500 by 49.13%.
From a total of 7 analysts covering 3D Systems Corporation (NYSE:DDD) stock, 2 rate it a “Buy”, 1 a “Sell”, and 4 a “Hold”. This means that 29% of the ratings are positive. The highest target price is $22 while the lowest target price is $10. The mean of all analyst targets is $13.20 which is 34.83% above today’s ($9.79) stock price. 3D Systems Corporation was the topic of 13 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Stephens upgraded shares on December 17 to a “Overweight” rating. Pacific Crest maintained DDD stock in a recent report from August 10 with a “Equal Weight” rating. Finally, Piper Jaffray upgraded the stock to a “Neutral” rating in a report they issued on an August 7.
The institutional sentiment increased to 1.1 in Q2 2015. It’s up 0.02, from 1.08 in 2015Q2. The ratio is positive, as 48 funds sold all their 3D Systems Corporation shares they owned while 63 reduced their positions. 40 funds bought stakes while 82 increased their total positions. Institutions now own 65.81 million shares which is 14.52% more than the previous share count of 57.46 million in 2015Q2.
Investment Management Of Virginia Llc holds 4.97% of its total portfolio in 3D Systems Corporation, equating to 1.63 million shares. Clark Estates Inc Ny owns 1.43 million shares representing 2.83% of their total US portfolio. Moreover, Wall Street Access Asset Management Llc has 2.8% of their total portfolio invested in the company, equating to 365,259 shares. The Louisiana-based Villere St Denis J & Co Llc has a total of 2.43% of their portfolio invested in the stock. Bluefin Trading Llc, a New York-based fund reported 1.14 million shares owned.
Since September 10, 2015, the stock had 0 buys, and 1 sale for a total of $106,716 in net activity. Johnson Andrew Martin sold 8,000 shares worth $106,716.
3D Systems Corporation is a holding company. The company has a market cap of $1.17 billion. The Firm is a well-known provider of three-dimensional printing centric solutions. It currently has negative earnings. It provides 3D design-to-manufacturing solutions, including 3D printers, print materials and cloud sourced custom parts.