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Short-Term Investor Stock DDD Gains 104.5% in 32 Trading Days

The stock, 3D Systems Corp. (DDD), featured on our 'Short-Term Investor' on May 11, 2021, at an opening price of $20.28. On June 25, 2021, the stock reached an intra-day high of $41.48, representing a gain of 104.5% from our published price.

In Wednesday's trading session, DDD is currently trading at $30.30, up 9 cents or 0.28%, with trading volume of over 533K versus an average volume of 5.28 million shares. The stock has been trading in the range of $4.60 - $56.50 for the past one year.

Why we published this stock?

The company reported upbeat Q1 results.

The company's Q1 net income was $45.2 million or $0.36 per share compared to a loss of $18.9 million or $0.17 per share last year.

On a non-GAAP basis, net income amounted to $20.9 million or $0.17 per share versus a loss of $4.5 million or $0.04 per share incurred a year ago.

Revenue for the quarter increased 7.7% to $146.1 million from $135.6 million generated in the same period of last year, reflecting strong performance in Healthcare and a continued stabilization of Industrial as economies around the world reopen from pandemic-related shutdowns.

On average, 9 analysts polled by Thomson Reuters expected earnings of $0.02 per share on revenue of $136.63 million for the quarter. Analysts' estimate typically exclude certain special items.

At March 31, 2021, the company had cash on hand of $133.0 million including restricted cash, no debt and a $100 million unused revolving credit facility with about $92.0 million of availability based on the terms of the agreement.

The company noted that cash on hand has increased $48.2 million since December 31, 2020, driven primarily by net proceeds from divestitures of $54.7 million and cash generated from operations of $28.5 million, offset by a debt repayment of $21.4 million and other financing and investing uses of cash.

Recent Q2 Performance

On August 9, 2021, the company reported a GAAP net loss of $9.6 million or $0.08 per share compared to a loss of $38.0 million or $0.33 per share last year. Non-GAAP net income was $14.2 million or $0.12 per share versus a loss of $15.1 million or $0.13 per share in the prior year period. Revenue for the quarter surged to $162.6 million from $112.8 million generated a year ago. Nine Wall Street analysts had a consensus earnings estimate of $0.05 per share on revenue of $143.28 million for the quarter.

At June 30, 2021, the company had cash on hand of $131.8 million, no debt and a $100 million unused revolving credit facility with full availability based on the terms of the agreement.

Cash has increased $47.8 million since December 31, 2020, driven primarily by net proceeds from divestitures of $54.7 million and cash generated from operations of $42.0 million, partially offset by a debt repayment of $21.4 million, acquisition costs of $14.9 million and other financing and investing uses of cash.

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