The share price of 3D Systems Corporation (NYSE:DDD) rose to $8.82 per share on Wednesday from $8.80. While 3D Systems Corporation has overperformed by 0.23%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DDD fell by -68.89%, with highs and lows ranging from $34.97 to $8.78, whereas the simple moving average fell by -37.66% in the last 200 days.
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On August 17, 2022, Credit Suisse started tracking 3D Systems Corporation (NYSE: DDD) recommending Underperform. A report published by Lake Street on March 01, 2022, Reiterated its previous ‘Buy’ rating for DDD. JP Morgan also reiterated DDD shares as ‘Underweight’, quoting a target price of $18 on the company’s shares in a report dated March 01, 2022. Craig Hallum Reiterated the rating as Hold on March 01, 2022, but set its price target from $33 to $18. BofA Securities resumed its ‘Underperform’ rating for DDD, as published in its report on March 01, 2022. B. Riley Securities’s report from March 01, 2022 suggests a price prediction of $22 for DDD shares, giving the stock a ‘Neutral’ rating. Lake Street also rated the stock as ‘Buy’.
Analysis of 3D Systems Corporation (DDD)
Further, the quarter-over-quarter decrease in sales is -13.90%, showing a negative trend in the upcoming months.
To gain a thorough understanding of 3D Systems Corporation’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 28.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and DDD is recording an average volume of 1.32M. On a monthly basis, the volatility of the stock is set at 3.87%, whereas on a weekly basis, it is put at 3.61%, with a loss of -7.45% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.69, showing growth from the present price of $8.82, which can serve as yet another indication of whether DDD is worth investing in or should be passed over.
How Do You Analyze 3D Systems Corporation Shares?
A leading company in the Computer Hardware sector, 3D Systems Corporation (DDD) is based in the USA. When comparing 3D Systems Corporation shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 4.85, there is a growth in quarterly earnings of -227.30%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 68.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DDD shares?
The recent increase in stakes in DDD appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in DDD has increased by 3.67% in the first quarter. The company now owns 18,830,618 shares of the stock, with a value of $190.75 million, following the purchase of 666,953 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in DDD during the first quarter, downing its stake by -0.19%. During the last quarter, the company dropped down -24,569 additional shares for a total stake of worth $134.16 million, bringing number of shares owned by the company to 13,244,205.
During the first quarter, Invesco Advisers, Inc. subtracted a -2,319 position in DDD. SSgA Funds Management, Inc. purchased an additional 0.26 million shares in the last quarter, increasing its holdings by 5.52%, now holding 4.92 million shares worth $49.84 million. At the end of the first quarter, Nikko Asset Management Americas, increased its DDD holdings by 2.00% and now holds 3.77 million DDD shares valued at $38.24 million with the added 73955.0 shares during the period. DDD shares are owned by institutional investors to the tune of 68.10% at present.