Home 3d Printing 3D Printing ETF Surges After 3D Systems’ Q4 Revenue Beat

3D Printing ETF Surges After 3D Systems’ Q4 Revenue Beat


An exchange traded fund focused on 3D printing was the best performer of Thursday after 3D Systems (DDD) issued a better-than-expected fourth quarter result.

The ARK 3D Printing ETF (CBOE: PRNT) advanced 10.3% on Thursday.

The ARK 3D Printing ETF tries to reflect the Total 3D-Printing Index’s performance, which is designed to track companies involved in the 3D printing industry. The Total 3D-Printing Index is composed of related companies from the U.S., non-U.S. developed markets and Taiwan that are engaged in 3D printing-related businesses engaged with 3D printing hardware, computer-aided design (“CAD”) and 3D printing simulation software, 3D printing centers, scanning and measurement, and 3D printing materials.

Among PRNT’s top holdings, 3D Systems surged 77.5% Wednesday. Additionally, Stratasys Ltd (SSYS) increased by 27.3%, and Materialise (MTLS) rose 13.2% as well. PRNT includes a 6.8% weight in DDD, 5.2% in SSYS, and 5.0% in MTLS.

3D Systems rallied on Thursday after the 3D printing company calculated its fourth-quarter revenue at $170 million to $176 million, or beating analysts’ $140 million estimate, TheStreet reports.

The 3D printing company likely capitalized from 3D unveiling its January 1 sale of two of its software businesses for $64.2 million, excluding $8.9 million of cash transferred to the buyer, a subsidiary of ST Acquisition Co. ST and an affiliate of Battery Ventures.

“In the summer of 2020, we laid out a four-stage plan to deliver increased value to our customers and shareholders,” 3D Chief Executive Jeffrey Graves said in a statement. “This plan included reorganization into two business units, healthcare and industrial solutions; restructuring of our operations to gain efficiencies; divesting of non-core assets; and investing for accelerated, profitable organic growth.”

The result: “significant progress from these efforts, as reflected in accelerated top-line growth and rapidly strengthening operating margins,” Graves added.

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