Nano Dimension (NASDAQ:NNDM) Shares Cross Below Fifty Day Moving Average – Here’s Why

Nano Dimension Ltd. (NASDAQ:NNDM)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.59 and traded as low as $1.4650. Nano Dimension shares last traded at $1.49, with a volume of 1,550,753 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Nano Dimension from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nano Dimension presently has a consensus rating of “Sell”.

Nano Dimension Stock Performance

The business has a 50 day simple moving average of $1.59 and a two-hundred day simple moving average of $1.72. The firm has a market capitalization of $316.57 million, a P/E ratio of -3.39 and a beta of 1.00.

Nano Dimension (NASDAQ:NNDM) last issued its quarterly earnings data on Friday, May 8th. The technology company reported ($0.34) EPS for the quarter. The business had revenue of $29.73 million for the quarter. Nano Dimension had a negative return on equity of 22.07% and a negative net margin of 286.72%.

Hedge Funds Weigh In On Nano Dimension

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. bought a new stake in shares of Nano Dimension during the 1st quarter worth $63,000. Cubist Systematic Strategies LLC bought a new position in Nano Dimension in the first quarter valued at $130,000. Rhumbline Advisers increased its stake in Nano Dimension by 87.1% in the first quarter. Rhumbline Advisers now owns 40,587 shares of the technology company’s stock valued at $65,000 after acquiring an additional 18,889 shares during the last quarter. JPMorgan Chase & Co. raised its position in Nano Dimension by 11,544.3% during the second quarter. JPMorgan Chase & Co. now owns 143,458 shares of the technology company’s stock valued at $232,000 after purchasing an additional 142,226 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Nano Dimension by 444.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 283,105 shares of the technology company’s stock valued at $459,000 after purchasing an additional 231,069 shares in the last quarter. Hedge funds and other institutional investors own 33.89% of the company’s stock.

Nano Dimension Company Profile

Nano Dimension Ltd. (NASDAQ: NNDM) is a provider of advanced additive manufacturing solutions tailored for the electronics industry. Founded in 2012 and headquartered in Ness Ziona, Israel, the company develops integrated hardware, software and material platforms designed to accelerate the design and production of printed circuit boards (PCBs) and conformal electronic devices. Its flagship DragonFly printers use patented inkjet-based 3D printing technology to produce multi-layer PCB prototypes in a single build process, reducing lead times and enabling rapid design iterations.

In addition to its 3D printing systems, Nano Dimension offers a suite of proprietary conductive and dielectric inks, as well as workflow software that connects designers, engineers and manufacturers.