Proto Labs (NYSE:PRLB) Shares Gap Up to $30.32

Shares of Proto Labs, Inc. (NYSE:PRLBGet Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $30.32, but opened at $31.23. Proto Labs shares last traded at $31.10, with a volume of 11,776 shares.

Wall Street Analyst Weigh In

PRLB has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research note on Monday, May 6th. Craig Hallum cut their price target on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, May 6th. Cantor Fitzgerald started coverage on shares of Proto Labs in a research note on Wednesday. They issued an “overweight” rating and a $44.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and set a $45.00 price target on shares of Proto Labs in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.25.

Read Our Latest Stock Report on Proto Labs

Proto Labs Stock Performance

The company’s 50-day moving average is $32.09 and its 200 day moving average is $35.09. The company has a market capitalization of $821.89 million, a PE ratio of 42.16 and a beta of 1.37.

Proto Labs (NYSE:PRLBGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The company had revenue of $127.89 million for the quarter, compared to the consensus estimate of $123.81 million. On average, analysts forecast that Proto Labs, Inc. will post 0.69 EPS for the current fiscal year.

Institutional Trading of Proto Labs

Several institutional investors have recently bought and sold shares of PRLB. Jump Financial LLC boosted its holdings in shares of Proto Labs by 1.9% during the 3rd quarter. Jump Financial LLC now owns 18,333 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 342 shares during the last quarter. Quantbot Technologies LP raised its stake in Proto Labs by 185.0% during the 3rd quarter. Quantbot Technologies LP now owns 13,679 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 8,879 shares during the period. Swiss National Bank raised its position in shares of Proto Labs by 0.9% during the third quarter. Swiss National Bank now owns 57,600 shares of the industrial products company’s stock valued at $1,521,000 after buying an additional 500 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Proto Labs by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,196 shares of the industrial products company’s stock valued at $10,169,000 after buying an additional 18,372 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Proto Labs during the third quarter valued at approximately $360,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

About Proto Labs

(Get Free Report)

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.

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