zSpace (NASDAQ:ZSPC) Shares Down 4.1% – Here’s Why

Shares of zSpace, Inc (NASDAQ:ZSPC) dropped 4.1% on Thursday . The stock traded as low as $0.3174 and last traded at $0.3384. Approximately 542,996 shares were traded during trading, a decline of 30% from the average daily volume of 773,437 shares. The stock had previously closed at $0.3530.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Northland Securities lowered zSpace from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Barrington Research dropped their target price on shares of zSpace from $5.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of zSpace in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of zSpace from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, zSpace currently has a consensus rating of “Hold” and an average price target of $6.00.

zSpace Price Performance

The firm has a market cap of $9.83 million, a price-to-earnings ratio of -0.43 and a beta of -0.55. The business has a 50-day moving average of $0.49 and a 200-day moving average of $1.20.

zSpace (NASDAQ:ZSPC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). The business had revenue of $8.79 million during the quarter, compared to analysts’ expectations of $8.43 million.

Institutional Trading of zSpace

An institutional investor recently bought a new position in zSpace stock. Millennium Management LLC purchased a new stake in zSpace, Inc (NASDAQ:ZSPC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 25,148 shares of the company’s stock, valued at approximately $25,000. Millennium Management LLC owned about 0.09% of zSpace at the end of the most recent reporting period.

About zSpace

zSpace, Inc is a technology company that develops augmented and virtual reality solutions designed to deliver immersive learning experiences. Headquartered in Pleasanton, California, the company focuses on integrating advanced 3D visualization hardware and interactive software to support science, technology, engineering and mathematics (STEM) education, as well as professional training applications.

The company’s flagship offering, the zSpace AR/VR system, combines a stereoscopic display, stylus-based interaction and head-tracking technology to enable users to manipulate and explore three-dimensional models.