Zacks Investment Research Lowers Materialise (MTLS) to Strong Sell

Materialise (NASDAQ:MTLS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.

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. “

MTLS has been the subject of several other research reports. Piper Jaffray Companies reiterated a “buy” rating and set a $20.00 target price on shares of Materialise in a research report on Friday, October 13th. KeyCorp reiterated a “buy” rating and set a $18.00 target price on shares of Materialise in a research report on Friday, November 10th. Finally, Credit Suisse Group increased their target price on Materialise from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $15.40.

Shares of Materialise (MTLS) opened at $15.24 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.61. Materialise has a 1 year low of $7.25 and a 1 year high of $16.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. purchased a new position in Materialise during the 2nd quarter valued at approximately $106,000. First Manhattan Co. purchased a new position in Materialise during the 2nd quarter valued at approximately $111,000. Symmetry Peak Management LLC purchased a new position in Materialise during the 2nd quarter valued at approximately $119,000. Private Advisor Group LLC grew its holdings in Materialise by 5.5% during the 2nd quarter. Private Advisor Group LLC now owns 18,702 shares of the software maker’s stock valued at $237,000 after buying an additional 980 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Materialise during the 2nd quarter valued at approximately $223,000. Institutional investors and hedge funds own 11.97% of the company’s stock.

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About Materialise

Materialise NV is a Belgium-based company engaged in the software industry. The Company is a provider of additive manufacturing software and of three dimensional (3D) printing services. Materialise NV incorporates of 3D printing experience into a range of software solution and 3D printing services, through which the Company seeks to form the backbone of the 3D printing industry.

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