Nano Dimension (NASDAQ:NNDM) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Nano Dimension Ltd. (NASDAQ:NNDM)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.51 and traded as low as $1.4601. Nano Dimension shares last traded at $1.48, with a volume of 1,363,361 shares.

Analyst Ratings Changes

NNDM has been the subject of a number of research analyst reports. Wall Street Zen lowered Nano Dimension from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Dimension in a research report on Monday, July 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Nano Dimension Stock Performance

The firm has a market cap of $316.57 million, a P/E ratio of -3.39 and a beta of 1.00. The firm’s fifty day moving average price is $1.50 and its 200 day moving average price is $1.69.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NNDM. Wells Fargo & Company MN raised its position in shares of Nano Dimension by 266.1% in the 4th quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company’s stock worth $29,000 after acquiring an additional 13,893 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Nano Dimension by 392.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,459 shares of the technology company’s stock valued at $30,000 after purchasing an additional 15,506 shares in the last quarter. Merit Financial Group LLC purchased a new position in Nano Dimension in the fourth quarter valued at about $34,000. Lido Advisors LLC bought a new position in Nano Dimension in the first quarter worth about $35,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Nano Dimension in the fourth quarter worth about $42,000. 33.89% of the stock is currently owned by hedge funds and other institutional investors.

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.