3D Systems Corporation (DDD): A Great Stock For Handling Current Market Conditions?

    SBUX Stock
    SBUX Stock

    BlackRock Fund Advisors recently announced the acquisition of new stake in 3D Systems Corporation (NYSE:DDD). The institutional investor has increased its shareholding in the Technology company by 0.77% to 16.17 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 13.60% valued currently at $106.57 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.57 million to 4.73 million shares. And Geode Capital Management LLC has lifted its position by 3.45% or 56544.0 shares – to 1.7 million shares.

    With over 2.36 million 3D Systems Corporation (DDD) shares trading Friday and a closing price of $5.41 on the day, the dollar volume was approximately $12.74 million. The shares have shown a negative weekly performance of -0.73% and its price on 08/28/20 gained nearly 1.88%. Currently, there are 121.14M common shares owned by the public and among those 117.48M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for DDD have a consensus price objective of $7.80. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the 3D Systems Corporation stock is 3.60 for the next 12 months. The average price target is 30.64% above its last price level and an upside to the estimated low will see the stock lose -8.2% over that period. But an upside of 50.82% will see the stock hit the forecast high price target while mean target price for the stock is $8.00.

    Insiders at the company have transacted a total of 68 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 979,490 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 158,023 shares.

    The top 3 mutual fund holders in 3D Systems Corporation are Invesco Oppenheimer Global Opport, iShares Core S&P Small Cap ETF, and Vanguard Total Stock Market Index. Invesco Oppenheimer Global Opport owns 8.0 million shares of the company’s stock, all valued at over $52.72 million. iShares Core S&P Small Cap ETF bought 26460.0 shares to see its total holdings expand to 7.4 million shares valued at over $48.77 million and representing 6.23% of the shares outstanding. Vanguard Total Stock Market Index bought 1029.0 shares to bring its total holdings to over 3.17 million shares at a value of $20.9 million. Vanguard Total Stock Market Index now owns shares totaling to 2.67% of the shares outstanding.

    Shares of 3D Systems Corporation (NYSE: DDD) opened at $5.30, down -$0.01 from a prior closing price of $5.31. However, the script later closed the day at $5.41, up 1.88%. The company’s stock has a 5-day price change of -0.73% and -28.91% over the past three months. DDD shares are trading -38.17% year to date (YTD), with the 12-month market performance down to -21.37% lower. It has a 12-month low price of $5.19 and touched a high of $12.56 over the same period. Currently, 2.36 million shares have been traded, compared to an average intraday trading volume of 2.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.15%, -16.11%, and -33.78% respectively.

    Institutional ownership of 3D Systems Corporation (NYSE: DDD) shares accounts for 70.10% of the company’s 121.14M shares outstanding. Mutual fund holders own 27.60%, while other institutional holders and individual stakeholders account for 42.57% and 10.20% respectively.

    It has a market capitalization of $635.62M and a beta (3y monthly) value of 1.51. The earnings-per-share (ttm) stands at -$0.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.82% over the week and 4.89% over the month.

    Analysts forecast that 3D Systems Corporation (DDD) will achieve an EPS of -$0.08 for the current quarter, -$0.03 for the next quarter and $0.15 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -51.60%, and 153.60% over the next financial year. EPS should grow at an annualized rate of 10.00% over the next five years, compared to -50.40% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate 3D Systems Corporation (DDD) as a “Hold” at a consensus score of 3.60. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 3 rated it as a “Sell.”

    Looking at the support for the DDD, a number of firms have released research notes about the stock. B. Riley FBR stated their Neutral rating for the stock in a research note on July 16, 2020, with the firm’s price target at $8. B. Riley FBR coverage for the 3D Systems Corporation (DDD) stock in a research note released on March 19, 2020 offered a Sell rating with a price target of $4. Piper Sandler was of a view on January 28, 2020 that the stock is Neutral, while Loop Capital gave the stock Sell rating on January 16, 2020, issuing a price target of $9. Craig Hallum on their part issued Buy rating on January 13, 2020.


    Please enter your comment!
    Please enter your name here