Share prices of 3D Systems have been increased by 26.3% on Monday followed by disclosure of better than expected earnings scenario. The California based 3D printer manufacturer has announced planning to expand the industrial applications for 3D printing in the healthcare, automotive and aerospace industries.
The stock has been traded at a maximum value of $14.80 while the last trading takes place for $14.59. Around 11,778,547 units of share have traded hands on that day. However, the stock has earlier been closed at $11.55, reports The Vista Voice.
The 3D printer company has reported $0.19 earnings per share (EPS) for the fourth quarter of 2015 (Q4:2015) off beating analysts' predictions by $0.16. The company has managed to record $0.21 EPS during the same quarter of the previous year. Revenue of the company has been recorded as $183.40 million compared to analysts' forecast for $166.38 million, according to a report published in Financial Market News.
Above 25% one day gain has been marked as the highest percentage increase for 3D Systems during the last five years. Stock of the company has been witnessed to jump 40% on February 17, 2011, which appears as the highest one day gain in recent years, reports MaeketWatch.
However, prices of the company shares have been increased 60% over the last three months out righting the flat performance for the S&P 500. The share prices have been down 6% in premarket trading on Tuesday opening at around $13.56 which is the highest opening price since October 12, 2015.
Executives of the company have reportedly been observing demand for industrial printers among the healthcare community. The 3D printer company has recently shifted its focus away from consumer printers to industrial applications for its hardware and software products. It has opened a state of the art facility in Denver last week which is now serving as launching point for 3D printing and software applications in healthcare. The facility will serve as a template for the company while pushing into other verticals such as auto and aerospace, cites Andrew Martin Johnson, CEO of 3D Systems. The inspirational earnings report has been followed by stale growth for the 3D printing industry. The industry has been struggling to gain stake in the consumer market due to immense competition. However, analysts presume, the trend has started to change in 2016 since new industrial applications for the technology has been uncovered.
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