Despite the Dow being down a staggering $422 today, shares of 3D Systems Corporation (NYSE:DDD) are trading considerably higher on news of a new metal 3D printer being offered by the company. The ProX DMP 320 for high throughput direct metal 3D Printer is capable of printing objects as large as 275mm x 275mm x 420mm.
“With the ProX DMP 320, we’ve leveraged our collective expertise in metal additive manufacturing to pair best-in-class productivity and repeatability with exceptional outcomes in key industrial materials,” said Mark Wright, Executive Vice President and Chief Operating Officer, 3D Systems. “We’ve been working closely with leading customers through extensive beta testing of this machine and the feedback we have received distinguishes this printer as one primed to transform expectations for timelines, process and results.”
The new machine will be unveiled at the Consumer Electronics Show in Las Vegas this week. Shares of 3D Systems Corporation (NYSE:DDD) were pummelled last week after a bit of a rally the two weeks prior. We will watch to see if this move may hold, or if shares will decline in the days to come. 3D Systems is known for their impressive CES showings. The stock is currently trading higher by 10.01% or $0.87 following the positive news, hitting $9.56 per share at the time of us publishing this article. About 3.51 million shares traded hands or up 16.23% from the average. DDD has declined 60.27% since May 29, 2015 and is currently downtrending. It has underperformed the S&P500 by 57.25%.
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 which is 35.98% above today’s ($9.56) stock price. 3D Systems Corporation was the topic of 14 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Needham maintained shares on December 30 with a “Buy” 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 improved, 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 $968.89 million. 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.