Needham & Company LLC Reaffirms Hold Rating for 3D Systems (NYSE:DDD)

3D Systems (NYSE:DDD)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports.

A number of other analysts have also weighed in on the company. Lake Street Capital cut their price objective on 3D Systems from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Loop Capital reduced their target price on shares of 3D Systems from $4.50 to $2.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Cantor Fitzgerald reduced their target price on shares of 3D Systems from $5.50 to $3.75 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, StockNews.com raised shares of 3D Systems from a “sell” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, 3D Systems currently has a consensus rating of “Hold” and an average price target of $3.25.

3D Systems Stock Down 13.5 %

Shares of NYSE DDD opened at $2.95 on Friday. The firm has a market cap of $400.08 million, a price-to-earnings ratio of -0.74 and a beta of 1.65. The company has a quick ratio of 2.42, a current ratio of 3.31 and a debt-to-equity ratio of 0.97. 3D Systems has a 52-week low of $1.72 and a 52-week high of $6.85. The business’s 50 day moving average is $3.03 and its two-hundred day moving average is $3.12.

3D Systems (NYSE:DDD) last posted its quarterly earnings data on Thursday, August 29th. The 3D printing company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). 3D Systems had a negative return on equity of 26.72% and a negative net margin of 117.65%. The company had revenue of $113.25 million for the quarter, compared to analysts’ expectations of $125.15 million. Research analysts predict that 3D Systems will post -0.67 EPS for the current year.

Hedge Funds Weigh In On 3D Systems

A number of hedge funds have recently made changes to their positions in DDD. Point72 DIFC Ltd purchased a new position in shares of 3D Systems in the 3rd quarter valued at $25,000. Murchinson Ltd. purchased a new stake in 3D Systems during the 3rd quarter worth $28,000. HighTower Advisors LLC purchased a new stake in 3D Systems during the 3rd quarter worth $31,000. Inspire Investing LLC purchased a new stake in 3D Systems during the 2nd quarter worth $35,000. Finally, Ballentine Partners LLC purchased a new stake in 3D Systems during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 64.49% of the company’s stock.

3D Systems Company Profile

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.