Nano Dimension (NASDAQ:NNDM) Share Price Passes Below 50-Day Moving Average – Here’s Why

Nano Dimension Ltd. (NASDAQ:NNDM)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.86 and traded as low as $1.73. Nano Dimension shares last traded at $1.78, with a volume of 2,567,454 shares.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NNDM. Weiss Ratings reiterated a “sell (d)” rating on shares of Nano Dimension in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Nano Dimension from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Nano Dimension Price Performance

The stock has a market cap of $355.47 million, a price-to-earnings ratio of -1.39 and a beta of 0.93. The business has a fifty day moving average of $1.86 and a 200 day moving average of $1.73.

Institutional Investors Weigh In On Nano Dimension

Several institutional investors and hedge funds have recently modified their holdings of the business. 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 in the last quarter. Merit Financial Group LLC bought a new stake in shares of Nano Dimension during the 4th quarter worth about $34,000. QRG Capital Management Inc. increased its holdings in shares of Nano Dimension by 83.1% during the 3rd quarter. QRG Capital Management Inc. now owns 23,544 shares of the technology company’s stock valued at $37,000 after acquiring an additional 10,683 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Nano Dimension during the 4th quarter valued at about $42,000. Institutional investors and hedge funds 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.