3D Systems (DDD) Shares Gap Down After Analyst Downgrade

3D Systems Co. (NYSE:DDD)’s share price gapped down before the market opened on Monday after JPMorgan Chase & Co. lowered their price target on the stock to $8.00. The stock had previously closed at $9.85, but opened at $12.14. JPMorgan Chase & Co. currently has an average rating on the stock. 3D Systems shares last traded at $11.45, with a volume of 189466 shares.

A number of other research firms have also issued reports on DDD. ValuEngine lowered 3D Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 1st. Piper Jaffray Companies raised 3D Systems from a “neutral” rating to an “overweight” rating and set a $17.00 price target on the stock in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $13.78.

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A number of large investors have recently made changes to their positions in DDD. Bank of New York Mellon Corp lifted its position in 3D Systems by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 1,313,379 shares of the 3D printing company’s stock valued at $18,138,000 after purchasing an additional 71,725 shares during the period. Alps Advisors Inc. lifted its position in 3D Systems by 32.2% in the third quarter. Alps Advisors Inc. now owns 28,127 shares of the 3D printing company’s stock valued at $532,000 after purchasing an additional 6,846 shares during the period. Chicago Equity Partners LLC acquired a new stake in 3D Systems in the third quarter valued at about $2,155,000. Private Advisor Group LLC acquired a new stake in 3D Systems in the third quarter valued at about $313,000. Finally, Wells Fargo & Company MN lifted its position in shares of 3D Systems by 30.7% during the 3rd quarter. Wells Fargo & Company MN now owns 168,754 shares of the 3D printing company’s stock valued at $3,190,000 after acquiring an additional 39,594 shares during the period. Hedge funds and other institutional investors own 70.22% of the company’s stock.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.50 and a current ratio of 2.29. The stock has a market cap of $1.32 billion, a PE ratio of -31.54 and a beta of 1.91.

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About 3D Systems (NYSE:DDD)

3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.

Further Reading: Intrinsic Value