Nano Dimension (NASDAQ:NNDM) Shares Down 5.7% – Here’s Why

Shares of Nano Dimension Ltd. (NASDAQ:NNDM) were down 5.7% during trading on Tuesday . The company traded as low as $2.46 and last traded at $2.47. Approximately 761,028 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 1,952,161 shares. The stock had previously closed at $2.62.

Nano Dimension Stock Down 3.7 %

The stock has a 50 day simple moving average of $2.31 and a 200 day simple moving average of $2.29. The company has a market capitalization of $495.02 million, a price-to-earnings ratio of -5.68 and a beta of 1.65.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NNDM. Orion Portfolio Solutions LLC bought a new stake in Nano Dimension in the third quarter valued at $25,000. GAMMA Investing LLC increased its position in Nano Dimension by 192.5% in the 4th quarter. GAMMA Investing LLC now owns 15,941 shares of the technology company’s stock valued at $40,000 after acquiring an additional 10,492 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Nano Dimension in the third quarter worth $41,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Nano Dimension by 83.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,031 shares of the technology company’s stock valued at $83,000 after buying an additional 15,485 shares during the period. Finally, Barclays PLC raised its holdings in Nano Dimension by 3,479.1% during the third quarter. Barclays PLC now owns 40,301 shares of the technology company’s stock worth $99,000 after purchasing an additional 39,175 shares in the last quarter. 33.89% of the stock is currently owned by institutional investors.

Nano Dimension Company Profile

Nano Dimension Ltd., together with its subsidiaries, engages in additive manufacturing solutions in Israel and internationally. The company offers 3D printers, comprising AME systems, which are inkjet printers, that produces Hi-PEDs by depositing proprietary conductive and dielectric substances, as well as integrates in-situ capacitors, antennas, coils, transformers, and electromechanical components; micro additive manufacturing systems, a digital light processing printers (DLP) that achieves production-grade polymer and composite parts; and industrial additive manufacturing systems, that utilizes a patented foil system that fabricates ceramic and metal parts.