Jim Kever, a director at 3D Systems Corp (DDD), recently picked up 10,000 shares. The buy increased his holdings by 2.5 percent, and came to a total cost of just over $106,000.
The buy comes one week after the company president and CEO picked up 10,141 shares, also for a total cost of around $106,000. Going back over the past three years, company insiders, including both executives and directors, have been inclined to be sellers of shares.
Overall, insiders at the company own about 2.5 percent of the company.
The 3D printing hardware and software company has lost about two-thirds of its value in the past year. That’s in spite of a revenue drop of just 9 percent. However, the company has now been profitable over three of the last four quarters, and has been trading with a price to earnings ratio of about 5.
Action to take: Shares are prone to large price moves in either direction, and it’s likely that shares will once again trade far higher than today. However, long-term investors may have to have some patience to see sizeable gains.
For traders, the August $11 calls are a near-the-money trade going for about $1.45 right now. A further rally in shares from here from current oversold levels could lead to mid-to-high double-digit returns in the next few months.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.