3D Systems Corp. (DDD) is Finally Turning Things Around

3D Systems Corp. (NYSE:DDD), incorporated in 1993, specializes in developing and marketing 3D printers and related products and services. The Rock Hill, South Carolina-based company serves a wide range of industries including aerospace, automotive, entertainment, and healthcare, among others. Customers can use its 3D solutions to manufacture complex parts with high precision.

The company has been in the 3D business for more than 3 decades. DDD stock has seen many ups and downs over the years. At one point during late 2013, its stock was trading around $100. And not long ago, its share price plunged to a low of around $5. While the stock traded mostly flat during the last year, it has been performing exceptionally well in 2021.

3D Systems stock value skyrocketed more than 100 percent last Thursday after the company announced an impressive revenue outlook for the fourth quarter. It expects to report revenue in the range of $170 million to $176 million for the quarter, well above analysts’ average estimate of $140 million.

Moreover, the company also reported last week that it has completed the sale of its non-core software businesses, including Cimatron and GibbsCAM, for total proceeds of approx. $64.2 million. Speaking on the development, CEO Jeffrey Graves said in a statement, “These divestitures strengthened our balance sheet, enabling us to both pay off our debt and terminate the ATM Program much earlier than originally planned.”

3D shares continued their rally this week, with the stock climbing over 17 percent on Monday, and skyrocketing 36.21 percent on Thursday. Overall, DDD stock value has increased over 200 percent so far this year, as investors welcomed the promising revenue forecast. Many believe that the company would finally be able to end its losing streak and turn a profit very soon.

We recently shared the list of Cathie Wood’s top 10 stocks to buy and hold for 5 years and DDD almost made that list.

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Disclosure: None. This article is originally published at Insider Monkey.