Washington Trust Advisors Inc. Trims Holdings in 3D Systems Co. (NYSE:DDD)

Washington Trust Advisors Inc. reduced its stake in shares of 3D Systems Co. (NYSE:DDD) by 32.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,995 shares of the 3D printing company’s stock after selling 26,045 shares during the quarter. Washington Trust Advisors Inc.’s holdings in 3D Systems were worth $156,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DDD. Inspire Investing LLC grew its stake in 3D Systems by 33.7% in the 3rd quarter. Inspire Investing LLC now owns 15,138 shares of the 3D printing company’s stock worth $43,000 after acquiring an additional 3,818 shares in the last quarter. Impact Partnership Wealth LLC increased its holdings in 3D Systems by 49.4% during the 3rd quarter. Impact Partnership Wealth LLC now owns 21,157 shares of the 3D printing company’s stock worth $60,000 after purchasing an additional 6,992 shares during the period. SG Americas Securities LLC raised its position in 3D Systems by 23.8% during the 3rd quarter. SG Americas Securities LLC now owns 45,617 shares of the 3D printing company’s stock valued at $130,000 after purchasing an additional 8,769 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of 3D Systems by 24.2% in the 2nd quarter. Inspire Advisors LLC now owns 46,960 shares of the 3D printing company’s stock worth $144,000 after buying an additional 9,136 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of 3D Systems by 21.8% during the 2nd quarter. Federated Hermes Inc. now owns 55,180 shares of the 3D printing company’s stock worth $169,000 after buying an additional 9,860 shares in the last quarter. 64.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DDD. Needham & Company LLC reaffirmed a “hold” rating on shares of 3D Systems in a research note on Friday, August 30th. Cantor Fitzgerald dropped their price objective on shares of 3D Systems from $5.50 to $3.75 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Loop Capital lowered their target price on 3D Systems from $4.50 to $2.00 and set a “hold” rating for the company in a report on Thursday, September 5th. StockNews.com cut 3D Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Finally, Lake Street Capital reduced their price target on 3D Systems from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.25.

3D Systems Stock Performance

Shares of DDD opened at $3.34 on Friday. The company has a current ratio of 3.46, a quick ratio of 2.42 and a debt-to-equity ratio of 0.55. The firm has a market cap of $446.14 million, a PE ratio of -1.23 and a beta of 1.65. 3D Systems Co. has a 12 month low of $1.72 and a 12 month high of $6.85. The stock has a fifty day moving average price of $2.76 and a 200-day moving average price of $3.16.

3D Systems (NYSE:DDD) last released its quarterly earnings results on Thursday, August 29th. The 3D printing company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The business had revenue of $113.25 million during the quarter, compared to analysts’ expectations of $125.15 million. 3D Systems had a negative net margin of 78.14% and a negative return on equity of 15.29%. Equities research analysts predict that 3D Systems Co. will post -0.67 earnings per share for the current fiscal year.

3D Systems Profile

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.