Shapeways (NYSE:SHPW) Price Target Cut to $3.00 by Analysts at Needham & Company LLC

Shapeways (NYSE:SHPW) had its target price reduced by Needham & Company LLC from $4.00 to $3.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Shapeways Price Performance

Shares of SHPW opened at $1.75 on Monday. The company has a 50 day moving average of $1.86 and a two-hundred day moving average of $2.18. The company has a quick ratio of 2.13, a current ratio of 2.34 and a debt-to-equity ratio of 0.03. Shapeways has a twelve month low of $1.62 and a twelve month high of $5.53. The company has a market cap of $11.58 million, a price-to-earnings ratio of -0.27 and a beta of 0.94.

Hedge Funds Weigh In On Shapeways

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in Shapeways during the 3rd quarter worth approximately $130,000. Vanguard Group Inc. lifted its stake in shares of Shapeways by 8.6% during the first quarter. Vanguard Group Inc. now owns 528,972 shares of the company’s stock worth $1,513,000 after buying an additional 41,930 shares during the period. Finally, State Street Corp purchased a new stake in shares of Shapeways during the first quarter valued at $63,000. Institutional investors and hedge funds own 25.68% of the company’s stock.

About Shapeways

Shapeways Holdings, Inc facilitates the design, manufacture, and sale of 3D printed products in the United States, Europe, and internationally. The company offers an end-to-end digital manufacturing platform on which the users can transform digital designs into physical products under the Otto brand.