Materialise (NASDAQ:MTLS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Materialise (NASDAQ:MTLS) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Materialise NV is a provider of Additive Manufacturing (AM) software solutions and sophisticated 3D printing services in a wide variety of industries, including healthcare, automotive, aerospace, art and design and consumer products. The Company specializes in preparation of 3D prototypes for manufactures, software development, biomedical research, and online services. It is also engaged in the development of solutions for orthopedics, biomedical software and engineering, and printing of cardiovascular models. Materialise NV is headquartered in Leuven, Belgium. “

A number of other analysts have also commented on MTLS. BidaskClub lowered Materialise from a buy rating to a hold rating in a research report on Thursday, December 31st. ValuEngine downgraded Materialise from a buy rating to a hold rating in a report on Tuesday, December 1st. Finally, Piper Sandler reiterated a neutral rating and issued a $38.00 target price on shares of Materialise in a report on Friday, October 30th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $27.67.

Shares of MTLS stock opened at $67.90 on Wednesday. The firm has a 50 day moving average of $51.73 and a 200-day moving average of $38.64. The company has a market cap of $3.56 billion, a price-to-earnings ratio of -848.75 and a beta of 0.94. The company has a quick ratio of 1.94, a current ratio of 2.07 and a debt-to-equity ratio of 0.71. Materialise has a 52 week low of $10.65 and a 52 week high of $79.94.

Materialise (NASDAQ:MTLS) last issued its earnings results on Thursday, October 29th. The software maker reported ($0.01) earnings per share (EPS) for the quarter. Materialise had a negative return on equity of 2.68% and a negative net margin of 2.06%. The company had revenue of $47.75 million for the quarter, compared to the consensus estimate of $48.32 million. Analysts anticipate that Materialise will post -0.11 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. BNC Wealth Management LLC bought a new stake in Materialise during the third quarter worth $31,000. California Public Employees Retirement System boosted its holdings in Materialise by 2.3% during the 3rd quarter. California Public Employees Retirement System now owns 43,634 shares of the software maker’s stock worth $1,611,000 after acquiring an additional 1,000 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Materialise by 24.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 11,837 shares of the software maker’s stock worth $437,000 after acquiring an additional 2,295 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Materialise by 116.6% in the third quarter. Wells Fargo & Company MN now owns 9,388 shares of the software maker’s stock valued at $347,000 after purchasing an additional 5,054 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Materialise during the third quarter valued at about $238,000. 35.47% of the stock is currently owned by institutional investors.

Materialise Company Profile

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

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