Materialise (NASDAQ:MTLS) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Materialise (NASDAQ:MTLS) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently commented on the stock. Weiss Ratings raised shares of Materialise from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. DA Davidson initiated coverage on Materialise in a research note on Tuesday, September 29th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Materialise Stock Performance

NASDAQ:MTLS opened at $7.22 on Friday. Materialise has a twelve month low of $4.78 and a twelve month high of $8.82. The company has a 50-day moving average of $7.84 and a 200-day moving average of $6.39. The firm has a market cap of $426.49 million, a price-to-earnings ratio of 26.08 and a beta of 1.33. The company has a current ratio of 2.41, a quick ratio of 2.22 and a debt-to-equity ratio of 0.18.

Materialise (NASDAQ:MTLS) last announced its quarterly earnings data on Wednesday, October 28th. The software maker reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $76.65 million for the quarter, compared to the consensus estimate of $78.13 million. Materialise had a net margin of 4.68% and a return on equity of 4.99%. Analysts forecast that Materialise will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Materialise

Hedge funds and other institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP lifted its position in Materialise by 175.0% during the second quarter. Engineers Gate Manager LP now owns 34,723 shares of the software maker’s stock worth $258,000 after purchasing an additional 22,098 shares during the period. NewEdge Advisors LLC boosted its stake in Materialise by 1,606.7% in the second quarter. NewEdge Advisors LLC now owns 26,300 shares of the software maker’s stock valued at $195,000 after buying an additional 24,759 shares in the last quarter. Optiver Holding B.V. grew its position in Materialise by 218.1% in the first quarter. Optiver Holding B.V. now owns 38,383 shares of the software maker’s stock valued at $190,000 after acquiring an additional 26,315 shares during the last quarter. AXQ Capital LP acquired a new position in Materialise during the second quarter worth about $118,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Materialise by 33.2% in the third quarter. GAMMA Investing LLC now owns 10,892 shares of the software maker’s stock worth $93,000 after acquiring an additional 2,716 shares during the last quarter. 19.30% of the stock is currently owned by institutional investors and hedge funds.

About Materialise

Materialise NV is a Belgium-based company that develops software and provides services for additive manufacturing, commonly known as 3D printing. Its technologies are used by manufacturers, medical professionals and researchers to design, prepare, manage and produce three-dimensional parts and devices.

The company’s software portfolio includes solutions such as Magics for preparing and managing 3D-printing jobs, the Mimics Innovation Suite for processing medical imaging data and creating patient-specific models, and 3-matic for advanced design and engineering applications.