3D Systems (DDD) Lowered to Underweight at JPMorgan Chase & Co.
JPMorgan Chase & Co. downgraded shares of 3D Systems (NYSE:DDD) from a neutral rating to an underweight rating in a report released on Friday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $11.00 price target on the 3D printing company’s stock.
DDD has been the topic of several other reports. Citigroup decreased their price target on shares of 3D Systems from $13.00 to $8.50 and set a sell rating on the stock in a research note on Thursday, November 2nd. Stifel Nicolaus reissued a hold rating and set a $11.00 price target (down from $15.00) on shares of 3D Systems in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of 3D Systems from a hold rating to a sell rating in a research note on Thursday, January 11th. Bank of America cut shares of 3D Systems from a buy rating to an underperform rating and increased their price target for the company from $9.63 to $12.38 in a research note on Wednesday, November 1st. Finally, FBR & Co cut shares of 3D Systems from a neutral rating to a sell rating in a research note on Wednesday, November 1st. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $12.68.
3D Systems (DDD) traded down $0.14 during midday trading on Friday, hitting $9.68. 2,435,519 shares of the stock traded hands, compared to its average volume of 3,143,415. The firm has a market capitalization of $1,118.13, a price-to-earnings ratio of -21.04 and a beta of 1.57. The company has a current ratio of 2.63, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. 3D Systems has a 12 month low of $7.92 and a 12 month high of $23.70.
Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in 3D Systems by 19.4% in the second quarter. PNC Financial Services Group Inc. now owns 9,561 shares of the 3D printing company’s stock valued at $178,000 after acquiring an additional 1,552 shares during the last quarter. Flinton Capital Management LLC boosted its stake in 3D Systems by 76.8% in the second quarter. Flinton Capital Management LLC now owns 10,098 shares of the 3D printing company’s stock valued at $189,000 after acquiring an additional 4,386 shares during the last quarter. Strategic Wealth Advisors Group LLC bought a new position in 3D Systems in the second quarter valued at approximately $220,000. Claraphi Advisory Network LLC bought a new position in shares of 3D Systems during the fourth quarter worth $162,000. Finally, Stoneridge Investment Partners LLC bought a new position in shares of 3D Systems during the third quarter worth $260,000. 61.03% of the stock is currently owned by hedge funds and other institutional investors.
About 3D Systems
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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