zSpace (NASDAQ:ZSPC) Shares Down 1.9% After Analyst Downgrade

zSpace, Inc. (NASDAQ:ZSPC)’s share price traded down 1.9% on Friday after Barrington Research lowered their price target on the stock from $11.00 to $10.00. Barrington Research currently has an outperform rating on the stock. zSpace traded as low as $6.10 and last traded at $6.23. 28,674 shares were traded during mid-day trading, a decline of 59% from the average session volume of 70,351 shares. The stock had previously closed at $6.35.

Other analysts also recently issued research reports about the stock. Roth Capital set a $20.00 target price on shares of zSpace in a report on Monday, February 3rd. Northland Securities upgraded shares of zSpace from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $20.00 to $10.00 in a research note on Monday, March 31st. Roth Mkm began coverage on shares of zSpace in a research note on Monday, February 3rd. They issued a “buy” rating and a $20.00 price target for the company. Finally, Northland Capmk upgraded shares of zSpace from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, zSpace presently has a consensus rating of “Buy” and an average target price of $15.00.

Hedge Funds Weigh In On zSpace

An institutional investor recently bought a new position in zSpace stock. Invesco Ltd. purchased a new position in zSpace, Inc. (NASDAQ:ZSPC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,930 shares of the company’s stock, valued at approximately $170,000. Invesco Ltd. owned approximately 0.10% of zSpace as of its most recent SEC filing.

zSpace Trading Down 1.9%

The firm has a 50-day simple moving average of $8.91.

zSpace (NASDAQ:ZSPC) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $6.76 million for the quarter, compared to analyst estimates of $5.03 million.

zSpace Company Profile

zSpace Technologies, Inc is a provider of commercial augmented reality and virtual reality technology principally in the education market. The Company offers differentiated hardware along with learning software modules for K-12 science, technology, engineering, game design and mathematics applications, as well as workforce-oriented career and technical education applications.