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

3D Systems Co. (NYSE:DDD)’s stock price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $3.58, but opened at $3.90. 3D Systems shares last traded at $3.75, with a volume of 556,249 shares changing hands.

Specifically, CEO Jeffrey A. Graves bought 60,000 shares of 3D Systems stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $3.85 per share, with a total value of $231,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,091,782 shares of the company’s stock, valued at approximately $4,203,360.70. This represents a 5.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

DDD has been the subject of several analyst reports. Lake Street Capital cut their price target on 3D Systems from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Loop Capital cut their price objective on 3D Systems from $4.50 to $2.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of 3D Systems in a research report on Thursday, December 12th. Cantor Fitzgerald reduced their price objective on shares of 3D Systems from $5.50 to $3.75 and set an “overweight” rating for the company in a research note on Friday, August 30th. Finally, Craig Hallum upgraded shares of 3D Systems to a “hold” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.25.

3D Systems Trading Down 0.8 %

The business’s fifty day moving average price is $3.20 and its 200 day moving average price is $3.09. The firm has a market capitalization of $481.45 million, a PE ratio of -0.89 and a beta of 1.64. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.97.

Institutional Investors Weigh In On 3D Systems

Hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new stake in 3D Systems in the 3rd quarter worth about $25,000. Murchinson Ltd. purchased a new position in shares of 3D Systems in the 3rd quarter worth about $28,000. HighTower Advisors LLC acquired a new stake in 3D Systems during the 3rd quarter worth approximately $31,000. Inspire Investing LLC purchased a new position in 3D Systems in the second quarter valued at approximately $35,000. Finally, Ballentine Partners LLC purchased a new position in shares of 3D Systems in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 64.49% of the company’s stock.

About 3D Systems

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.