Short Interest in 3D Systems Corporation (NYSE:DDD) Drops By 26.1%

3D Systems Corporation (NYSE:DDD) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 29,000,931 shares, a drop of 26.1% from the December 15th total of 39,222,025 shares. Currently, 23.7% of the company’s shares are short sold. Based on an average daily volume of 2,970,743 shares, the days-to-cover ratio is presently 9.8 days. Based on an average daily volume of 2,970,743 shares, the days-to-cover ratio is presently 9.8 days. Currently, 23.7% of the company’s shares are short sold.

Institutional Trading of 3D Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in 3D Systems by 5,139.4% during the 1st quarter. NewEdge Advisors LLC now owns 13,151 shares of the 3D printing company’s stock worth $28,000 after buying an additional 12,900 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of 3D Systems during the 3rd quarter valued at approximately $41,000. Founders Financial Securities LLC acquired a new stake in shares of 3D Systems during the 3rd quarter valued at approximately $50,000. Prudential Financial Inc. lifted its stake in 3D Systems by 74.8% during the second quarter. Prudential Financial Inc. now owns 18,427 shares of the 3D printing company’s stock worth $28,000 after purchasing an additional 7,887 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in 3D Systems during the third quarter valued at $54,000. Institutional investors and hedge funds own 64.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of 3D Systems in a research report on Monday, December 29th. Zacks Research downgraded shares of 3D Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 24th. Wall Street Zen lowered shares of 3D Systems from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Cantor Fitzgerald increased their price target on 3D Systems from $4.00 to $4.75 and gave the company an “overweight” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.75.

3D Systems Stock Up 4.2%

Shares of DDD stock traded up $0.11 during mid-day trading on Friday, reaching $2.75. 5,919,501 shares of the company were exchanged, compared to its average volume of 4,515,131. The company has a market capitalization of $354.04 million, a P/E ratio of -27.50 and a beta of 1.88. The business’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.73 and a current ratio of 2.73. 3D Systems has a fifty-two week low of $1.32 and a fifty-two week high of $5.00.

3D Systems (NYSE:DDD) last announced its quarterly earnings data on Tuesday, November 4th. The 3D printing company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $91.25 million during the quarter, compared to analyst estimates of $93.04 million. 3D Systems had a net margin of 4.01% and a negative return on equity of 38.72%. Research analysts predict that 3D Systems will post -0.73 earnings per share for the current year.

About 3D Systems

3D Systems, founded in 1986 by stereolithography pioneer Chuck Hull, is a leading provider of additive manufacturing solutions. Headquartered in Rock Hill, South Carolina, the company develops and sells a broad range of 3D printers, materials, software, and on-demand manufacturing services. Its core technologies include stereolithography (SLA), selective laser sintering (SLS), direct metal printing (DMP), and multi-jet printing (MJP), enabling customers to build prototypes, production parts, and complex geometries across a variety of industries.

The company’s hardware portfolio spans desktop to production-scale systems designed for applications in aerospace, automotive, healthcare, consumer products, and education.