Materialise (NASDAQ:MTLS) Stock Price Crosses Below Two Hundred Day Moving Average of $8.14

Materialise NV (NASDAQ:MTLS) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.14 and traded as low as $6.05. Materialise shares last traded at $6.08, with a volume of 65,396 shares.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MTLS shares. StockNews.com raised shares of Materialise from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Kepler Capital Markets raised shares of Materialise from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Friday, May 26th.

Materialise Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.94 and a current ratio of 2.11. The firm has a 50 day moving average price of $7.49 and a 200-day moving average price of $8.14.

Materialise (NASDAQ:MTLS) last released its earnings results on Wednesday, July 26th. The software maker reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). The company had revenue of $70.42 million during the quarter. Materialise had a net margin of 0.01% and a return on equity of 0.01%.

Institutional Investors Weigh In On Materialise

Several large investors have recently modified their holdings of MTLS. ARK Investment Management LLC boosted its position in shares of Materialise by 15.8% during the second quarter. ARK Investment Management LLC now owns 1,762,504 shares of the software maker’s stock worth $15,228,000 after buying an additional 240,785 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Materialise by 2.1% in the first quarter. Exchange Traded Concepts LLC now owns 1,456,413 shares of the software maker’s stock valued at $12,088,000 after purchasing an additional 30,291 shares during the period. Legal & General Group Plc raised its holdings in Materialise by 2.7% in the 4th quarter. Legal & General Group Plc now owns 1,057,942 shares of the software maker’s stock valued at $9,309,000 after acquiring an additional 27,627 shares during the period. Millennium Management LLC bought a new stake in Materialise in the 4th quarter valued at $4,938,000. Finally, Renaissance Technologies LLC grew its stake in shares of Materialise by 27.9% in the second quarter. Renaissance Technologies LLC now owns 443,100 shares of the software maker’s stock valued at $3,828,000 after acquiring an additional 96,700 shares in the last quarter. 24.68% of the stock is currently owned by institutional investors.

About Materialise

Materialise NV provides additive manufacturing and medical software, and 3D printing services in the Americas, Europe and Africa, and the Asia-Pacific. The company operates through three segments: Materialise Software, Materialise Medical, and Materialise Manufacturing. The Materialise Software segment offers software through programs and platforms that enable and enhance the functionality of 3D printers and of 3D printing operations.