24/7 Market News Snapshot 12 December, 2024 – 3D Systems Corporation (NYSE:DDD)

December 12, 2024

DENVER, Colo., 12 December, 2024 (247marketnews.com) – (NYSE:DDD) are discussed in this article.
3D Systems Corporation has experienced a notable surge in its stock, opening at $3.43 and rising to $4.035, reflecting a remarkable increase of 19.73%. This positive trend follows a close of $3.37 in the previous session, highlighting robust investor enthusiasm. With current trading volume at 4.33 million shares, the market is displaying heightened activity and potential momentum. Traders are encouraged to watch key support levels around $3.50 for entry opportunities, while resistance may arise near $4.20. This performance is a clear indicator of increased market confidence in 3D Systems.

In a strategic move to bolster its market position, 3D Systems has announced the sale of its Geomagic software portfolio to Hexagon, a leading provider of digital reality solutions, for $123 million. This transaction, expected to close in the first half of 2025 pending regulatory approvals, represents a critical shift for 3D Systems as it concentrates on its core software platforms that are vital for advancing 3D printing technologies in large-scale applications.

The Geomagic suite, which includes advanced tools such as Design X, Control X, and Freeform, has garnered a strong market reputation in reverse engineering and inspection. The acquisition allows Hexagon to combine Geomagic’s capabilities with its scanning technologies, enhancing the overall user experience for scan-to-CAD workflows.

Meanwhile, 3D Systems plans to allocate its resources toward improving its main software offerings—3D Sprint, 3DXpert, and Oqton Industrial Manufacturing OS. These platforms aim to streamline production processes and harness the power of artificial intelligence and machine learning, ultimately benefiting customers through enhanced efficiency and cost reductions.

Dr. Jeffrey Graves, President and CEO of 3D Systems, stated that this focus on innovation is crucial for fostering the widespread adoption of 3D printing technologies. By honing in on its core capabilities, 3D Systems is positioning itself to better cater to the needs of customers engaged in high-volume manufacturing, thus paving the way for transformative developments in the additive manufacturing sector.

Related news for (DDD)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.