3D Systems (NYSE:DDD) Shares Gap Up After Insider Buying Activity

The shares of 3D Systems Co. (NYSE:DDD) experienced a significant gap up at the start of trading on Thursday after news of an insider purchasing additional shares of the company came to light. Previously closing at $3.58, the stock opened at $3.90 and was last traded at $3.75, with a trading volume of 556,249 shares.

CEO Jeffrey A. Graves made headlines by acquiring 60,000 shares on Tuesday, December 17th. The purchase was made at an average price of $3.85 per share, totaling a transaction amount of $231,000. As a result of this purchase, Graves now holds 1,091,782 shares in the company, valued at approximately $4.2 million. This transaction marks a 5.82% increase in his ownership stake. The details of this acquisition were officially disclosed in a filing with the Securities and Exchange Commission and are publicly accessible.

Analyst Ratings and Comments

Recent commentary from financial analysts regarding 3D Systems has shown a mixed outlook. Cantor Fitzgerald revised their target price for the stock down from $5.50 to $3.75, maintaining an "overweight" rating. Lake Street Capital also lowered their target from $6.00 to $4.00, while assigning a "buy" rating. Meanwhile, Needham & Company reaffirmed a "hold" rating, and StockNews.com upgraded the stock from a "sell" to a "hold" rating in late November. Notably, Loop Capital set a lower target price of $2.00 with a "hold" rating earlier in September. Overall, four analysts have recommended holding the stock, while two have given it a buy rating, leading to a consensus rating of "Hold" and an average price target of $3.25 according to data from MarketBeat.com.

Performance and Metrics

In terms of performance, 3D Systems has a 50-day moving average of $3.19 and a 200-day moving average of $3.08. The company’s debt-to-equity ratio stands at 0.97, with a quick ratio of 2.34 and a current ratio of 3.31. The market capitalization of the company is approximately $505.86 million, with a price-to-earnings (PE) ratio of -0.94. The stock’s beta is noted as 1.64, indicating some volatility in comparison to the market.

Institutional Investment Activity

Recent institutional investment activities show a notable influx into 3D Systems. For instance, Point72 DIFC Ltd entered a new position during the third quarter, valued at around $25,000. Murchinson Ltd. and HighTower Advisors LLC also purchased new stakes valued at $28,000 and $31,000, respectively. In total, 64.49% of the stock is currently held by institutional investors and hedge funds.

Company Background

3D Systems Corporation is recognized for providing advanced 3D printing and digital manufacturing solutions across the globe, including regions like the Americas, Europe, the Middle East, Africa, and Asia Pacific. The company's technologies encompass diverse 3D printing processes such as stereolithography, selective laser sintering, direct metal printing, and polymer extrusion. These processes enable the creation of printed parts from digital designs generated through various computer-aided design tools.

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