3D Systems Corporation (NASDAQ: DDD)
3D Systems Corporation (DDD), a 3D printing company yesterday announced the launch of its new metal printer the ProX DMP 320. “The new printer is designed for high precision, high throughput direct metal printing and optimized for critical applications requiring complex, chemically-pure titanium, stainless steel or nickel super alloy parts.” The Street
3D Systems Corporation CEO’s Comments
“As beta system partners, we have been relying on the ProX DMP 320 to make titanium parts and are impressed by the high throughput, ease of use, consistency of output, and overall part quality,” said Bob Markley, Founder and Chief Executive Officer at 3rd Dimension, an industry leading Direct Metal Printing provider in North America. “Combined with our ProX 200 and ProX 300, we are able to provide our customers with the optimal part, in the optimal metal, to meet the demands of each and every application—no matter how specialized.” Globe Newswire
“With the ProX DMP 320, we’ve leveraged our collective expertise in metal additive manufacturing to pair best-in-class productivity and repeatability with exceptional outcomes in key industrial materials,” said Mark Wright, Executive Vice President and Chief Operating Officer, 3D Systems. “We’ve been working closely with leading customers through extensive beta testing of this machine and the feedback we have received distinguishes this printer as one primed to transform expectations for timelines, process and results.” Globe Newswire
DDD Technical Analysis
DDD opened up at $8.47 yesterday morning, down for the prior days close of $8.69, a 3% decrease in price. As of late Monday afternoon DDD is trading at $10.06 up almost 16% on favorable news. Taking a closer look at the daily chart we can see that DDD has been on an overall decline dating back to April 20th when it traded at $32.50. Before yesterday’s run up in price DDD was sitting right at its 52 week low price of $8.44. One can make a case that a part of this rally is shorts covering their position as the stock has a 32% short float. So with the positive news of the new printer shorts would be looking to cover their positions. DDD has a float of 105.85 million shares and is trading over 2 times the normal daily trading volume. For trading purposes, it would be nice to see if DDD can hold the $10 price level moving forward before I would recommend it as a buy.
3D Systems Corporation, through its subsidiaries, operates as a provider of 3D printing centric design-to-manufacturing solutions in the Americas, Germany, and the Asia-Pacific, as well as other European, the Middle East, and African countries. The companys 3D printers transform data input from the format generated by 3D design software, CAD software, or 3D scanning and sculpting devices to printed parts using integrated, engineered plastic, metal, nylon, rubber, wax, and composite print materials. It offers stereolithography, selective laser sintering, direct metal, multi-jet, color jet, and film transfer imaging printers, as well as plastic jet printing 3D printers. The company also blends, packages, and sells proprietary, consumable, engineered plastic, nylon, metal, and composite materials for use in printers under the Accura, DuraForm, CastForm, LaserForm, and VisiJet brand names. In addition, it provides software packages and design tools for reverse engineering, inspection, and haptic design packages; CAD and CAM software packages designed for the manufacturing industry; and 3D scanners and perceptual devices. Further, the company offers pre-sale and post-sale services comprising applications development and custom engineered production solutions; and installation, warranty, and maintenance services, as well as proprietary software printer drivers. It primarily serves manufacturers of automotive, aerospace, computer, electronic, defense, education, consumer, energy, and healthcare products, as well as original equipment manufacturers, government agencies, universities and other educational institutions, independent service bureaus, and individual consumers. The company sells its products and services through its direct sales force, sales agents, resellers, and distributors. 3D Systems Corporation was founded in 1986 and is headquartered in Rock Hill, South Carolina. Yahoo Finance