Nano Dimension (NASDAQ:NNDM) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Nano Dimension Ltd. (NASDAQ:NNDM)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.71 and traded as low as $1.66. Nano Dimension shares last traded at $1.76, with a volume of 3,649,667 shares traded.

Analysts Set New Price Targets

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

Nano Dimension Stock Up 2.9%

The company has a market cap of $368.21 million, a PE ratio of -4.00 and a beta of 0.99. The stock’s 50 day simple moving average is $1.71 and its two-hundred day simple moving average is $1.75.

Nano Dimension (NASDAQ:NNDM) last posted its quarterly earnings results on Friday, May 8th. The technology company reported ($0.34) earnings per share for the quarter. The company 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%.

Institutional Investors Weigh In On Nano Dimension

Several large investors have recently made changes to their positions in NNDM. Wells Fargo & Company MN grew its holdings in Nano Dimension by 266.1% during the 4th quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company’s stock valued at $29,000 after purchasing an additional 13,893 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Nano Dimension by 392.3% during the 4th 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. Engineers Gate Manager LP grew its holdings in Nano Dimension by 108.5% during the 4th quarter. Engineers Gate Manager LP now owns 31,641 shares of the technology company’s stock valued at $49,000 after purchasing an additional 16,469 shares in the last quarter. Rhumbline Advisers grew its holdings in Nano Dimension by 87.1% during the 1st quarter. Rhumbline Advisers now owns 40,587 shares of the technology company’s stock valued at $65,000 after purchasing an additional 18,889 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Nano Dimension by 41.0% during the 2nd quarter. Osaic Holdings Inc. now owns 65,184 shares of the technology company’s stock valued at $106,000 after purchasing an additional 18,951 shares in the last quarter. Institutional investors and hedge funds own 33.89% of the company’s stock.

About Nano Dimension

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.