3D Systems Corporation (DDD): When The Market Gets It Wrong

The stock of 3D Systems Corporation (NYSE:DDD) has been Downgraded to Underweight from Neutral by JP Morgan in its latest research note that was published on August 08. DDD was given a price target of $7 by JP Morgan, with other Wall Street analysts also giving their reports regarding the stock. B. Riley FBR analysts bumped their recommendation on DDD stock from Sell to Neutral in a separate flash note to investors on June 24. Analysts at JP Morgan issued an upgrade fromUnderweight to Neutral for the stock, in a research note that dated back to May 10.

3D Systems Corporation, which has current market capitalization of above $994 Million, published its last quarter earnings on June 30, 2019.

DDD surged by $0.17 during the normal trading session on Thursday and reaching a high of $8.59 during the day while it closed the day at $8.49. The 3D stock had a high trading volume of 1.53 million shares on that day, which is high compared to the average daily volume of 1.48M shares. DDD has also gained 15.20% of its value over the past 7 days. However, the stock has surged by 3.28% in the 3 months of the year. Over the past six months meanwhile, it has lost 24.47% while it has lost 16.52% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -9.49% from its 3 months high price. However, taking another look at DDD will indicate that it is trading +31.32% away from its 90-day low. Looking at the bigger picture, the 3D Systems Corporation stock has dropped by -58.93% from its 52-week high while it has surged by +31.32% from its 52-week low price.

On May 13, 2019 JOSHI VYOMESH, President and CEO bought 29920 shares of the company. The average price for that transaction was $8.22 per share, which meant that JOSHI VYOMESH spent $245942.4 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with President and CEO, JOSHI VYOMESH purchasing 29920 shares of this stock on May 13, 2019. The average purchasing price for the stock was $8.22 per share, with the purchased stock accruing $245942.4. Following this transaction, the President and CEO JOSHI VYOMESH now holds 213025 shares of the company, which is worth around $1793671.

3D has around 150 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $181 Billion. The 3D stock is bringing in revenue of over 12 months, which is roughly 84 Billion. Despite all that, 3D Systems Corporation is seeing things declining very much as their y-o-y quarterly revenue dropped by -7.12%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 69.71%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 95.29%. Over the past 20 days, 3D’s Stochastic %K stood at 95.89% while its Stochastic %D was revealed to be 95.84%.