Materialise (NASDAQ:MTLS) Trading Down 13.5%

Materialise NV (NASDAQ:MTLS) shares were down 13.5% during trading on Tuesday . The company traded as low as $42.22 and last traded at $50.25. Approximately 864,091 shares were traded during mid-day trading, an increase of 98% from the average daily volume of 436,960 shares. The stock had previously closed at $58.10.

A number of analysts have commented on MTLS shares. Piper Sandler restated a “neutral” rating and issued a $38.00 price target on shares of Materialise in a research report on Friday, October 30th. Zacks Investment Research cut Materialise from a “hold” rating to a “sell” rating in a research report on Thursday, February 18th.

The company has a debt-to-equity ratio of 0.71, a current ratio of 2.07 and a quick ratio of 1.94. The firm has a 50-day moving average of $69.13 and a 200-day moving average of $47.92. The stock has a market cap of $2.63 billion, a PE ratio of -628.13 and a beta of 0.94.

Several large investors have recently added to or reduced their stakes in MTLS. ARK Investment Management LLC grew its position in shares of Materialise by 32.7% during the third quarter. ARK Investment Management LLC now owns 6,319,679 shares of the software maker’s stock worth $233,259,000 after purchasing an additional 1,558,800 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Materialise by 454.3% during the fourth quarter. SG Americas Securities LLC now owns 95,795 shares of the software maker’s stock worth $5,193,000 after purchasing an additional 78,514 shares in the last quarter. Jane Street Group LLC bought a new position in Materialise during the fourth quarter valued at approximately $2,801,000. Nia Impact Advisors LLC bought a new position in Materialise during the fourth quarter valued at approximately $2,569,000. Finally, State Street Corp boosted its stake in Materialise by 42.8% during the third quarter. State Street Corp now owns 98,299 shares of the software maker’s stock valued at $3,628,000 after buying an additional 29,469 shares during the last quarter. Hedge funds and other institutional investors own 32.99% of the company’s stock.

Materialise Company Profile (NASDAQ:MTLS)

Materialise NV provides additive manufacturing and medical software, and 3D printing services in Europe, the Americas, Europe and Africa, and the Asia-Pacific. The company's Materialise Software segment offers software through programs and platforms that enable and enhance the functionality of 3D printers and of 3D printing operations.

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