3D Systems (NYSE:DDD) Stock Price Down 6.1% – Here’s Why

3D Systems Co. (NYSE:DDD)’s stock price was down 6.1% on Friday . The company traded as low as $3.83 and last traded at $3.84. Approximately 1,411,651 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 2,317,384 shares. The stock had previously closed at $4.09.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DDD. Needham & Company LLC reiterated a “hold” rating on shares of 3D Systems in a research report on Thursday. Loop Capital decreased their price target on shares of 3D Systems from $4.50 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. StockNews.com upgraded shares of 3D Systems from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Lake Street Capital decreased 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. Finally, Cantor Fitzgerald dropped their target price on 3D Systems from $5.50 to $3.75 and set an “overweight” rating for the company in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.25.

3D Systems Trading Down 2.9 %

The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.97. The company’s fifty day moving average is $3.14 and its two-hundred day moving average is $3.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DDD. Point72 DIFC Ltd acquired a new position in 3D Systems in the third quarter valued at about $25,000. Murchinson Ltd. acquired a new stake in shares of 3D Systems in the 3rd quarter valued at approximately $28,000. HighTower Advisors LLC acquired a new stake in shares of 3D Systems in the 3rd quarter valued at approximately $31,000. Inspire Investing LLC acquired a new position in 3D Systems during the second quarter valued at approximately $35,000. Finally, Ballentine Partners LLC acquired a new position in 3D Systems during the third quarter valued at approximately $36,000. 64.49% of the stock is currently owned by institutional investors.

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.