What explains 3D Systems Corporation (DDD)’s steep share price increase?        

The share price of 3D Systems Corporation (DDD) was up 35.23 % to close at $ 24.03. previously DDD stock was worth $ 17.77. The company’s revenue and earnings have exceeded analysts’ expectations, which indicates it will make strong sales.

The company reported $7.7 % revenue growth in the last quarter, reaching $146.1 million. An adjusted net income of $ 45.2 million was achieved instead of a loss of $18.9 million a year earlier. Sales increased by 39% to $ 72.5 million, with the healthcare segment being the main driver. 3D Systems’ profit per share was $0.17. As of the end of the quarter, the company had $ 133 million in cash and no debt. Revenue fell 12.0% from the prior-year quarter.

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Performance improvements at 3D Systems Corporation (DDD) are a sign of the company’s efforts. The company has expanded its portfolio of solutions in recent quarters: integrated new materials, technologies, and paid off its debts.

The decline in industrial orders in the context of COVID-19 and including units already sold still contributes to 3D Systems’ negative performance in financial terms. Aside from items sold, 3D Systems’ revenue in the industrial segment grew by about 1% over the first quarter of 2012.

There is no forecast for 2021 provided by 3D Systems. However, Wall Street believes revenue will grow by $ 139.4 million and earnings by $ 0.03 per share in the second quarter.

Today, 3D Systems Corporation (DDD) shares traded at $24.53 last checked in premarket trading, up 2.08%. Shares of 3D Systems Corporation rose 35.23% to close at $24.03 on Tuesday. In the past three months, the average volume for shares traded was 5.10 million, whereas 60.23 million shares were traded on Tuesday. As the stock traded between $19.70 and $24.29, it fluctuated between these levels. Its earnings per share were -1.27. In the last five sessions, DDD’s shares gained 23.04%, moved 8.44% over the past month, but gained 129.29% year-to-date. This stock’s 50-day moving average is higher than its 200-day average of $17.10. Furthermore, the stock is currently trading at an RSI of 55.02.

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