Nano Dimension (NASDAQ:NNDM) Stock Crosses Below 50 Day Moving Average – Here’s Why

Nano Dimension Ltd. (NASDAQ:NNDM)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.54 and traded as low as $1.49. Nano Dimension shares last traded at $1.52, with a volume of 1,399,368 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Dimension in a research report on Monday, July 6th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nano Dimension presently has an average rating of “Sell”.

Nano Dimension Stock Up 0.7%

The stock’s fifty day moving average is $1.54 and its two-hundred day moving average is $1.62. The firm has a market capitalization of $322.59 million, a price-to-earnings ratio of -3.33 and a beta of 1.02.

Nano Dimension (NASDAQ:NNDM) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. Nano Dimension had a negative net margin of 135.18% and a negative return on equity of 24.92%. The firm had revenue of $28.96 million during the quarter, compared to analysts’ expectations of $5.50 million.

Hedge Funds Weigh In On Nano Dimension

A number of hedge funds and other institutional investors have recently bought and sold shares of NNDM. Wells Fargo & Company MN increased its position in Nano Dimension by 266.1% during the fourth quarter. Wells Fargo & Company MN now owns 19,113 shares of the technology company’s stock worth $29,000 after buying an additional 13,893 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 worth $30,000 after acquiring an additional 15,506 shares during the period. Lido Advisors LLC acquired a new position in shares of Nano Dimension during the 1st quarter worth approximately $35,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Nano Dimension during the 4th quarter worth approximately $42,000. Finally, Griffin Asset Management Inc. bought a new stake in Nano Dimension in the 4th quarter valued at $44,000. Institutional investors own 33.89% of the company’s stock.

Nano Dimension Company Profile

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.