Why 3D Systems Corporation's Shares Plunged a Whopping 30% Today
Shares of 3D Systems Corporation (NYSE: DDD) dropped as much as 29.7% on Wednesday after reporting third-quarter earnings. Sales fell and net loss grew, which is never good for a company, and management even withdrew its guidance for the year. At 1:50 p.m. EDT, shares were still down 24.1% on the day and showed no signs of picking up.
Revenue fell 2.2%, to $152.9 million in the quarter, and net loss expanded from $21.4 million to $37.7 million, or $0.34 per share. Adjusted for one-time items, the loss was $0.20, but even that was a shock because analysts were expecting $0.12 in earnings per share on $162.9 million in revenue.
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Source: Fool.com
3D Systems Corp. Stock
€3.23
-1.170%
Our community is currently high on 3D Systems Corp. with 4 Buy predictions and 2 Sell predictions.
Based on the current price of 3.23 € the target price of 7 € shows a potential of 117.05% for 3D Systems Corp. which would more than double the current price.
