An trade traded fund targeted on 3D printing was one of the best performer of Thursday after 3D Methods (DDD) issued a better-than-expected fourth quarter outcome.
The ARK 3D Printing ETF (CBOE: PRNT) superior 10.3% on Thursday.
The ARK 3D Printing ETF tries to replicate the Whole 3D-Printing Index’s efficiency, which is designed to trace corporations concerned within the 3D printing trade. The Whole 3D-Printing Index consists of associated corporations from the U.S., non-U.S. developed markets and Taiwan which might be engaged in 3D printing-related companies engaged with 3D printing {hardware}, computer-aided design (“CAD”) and 3D printing simulation software program, 3D printing facilities, scanning and measurement, and 3D printing supplies.
Amongst PRNT’s high holdings, 3D Methods surged 77.5% Wednesday. Moreover, Stratasys Ltd (SSYS) elevated by 27.3%, and Materialise (MTLS) rose 13.2% as properly. PRNT features a 6.8% weight in DDD, 5.2% in SSYS, and 5.0% in MTLS.
3D Methods rallied on Thursday after the 3D printing firm calculated its fourth-quarter income at $170 million to $176 million, or beating analysts’ $140 million estimate, TheStreet experiences.
The 3D printing firm seemingly capitalized from 3D unveiling its January 1 sale of two of its software program companies for $64.2 million, excluding $8.9 million of money transferred to the client, a subsidiary of ST Acquisition Co. ST and an affiliate of Battery Ventures.
“In the summertime of 2020, we laid out a four-stage plan to ship elevated worth to our prospects and shareholders,” 3D Chief Govt Jeffrey Graves mentioned in a press release. “This plan included reorganization into two enterprise items, healthcare and industrial options; restructuring of our operations to realize efficiencies; divesting of non-core property; and investing for accelerated, worthwhile natural development.”
The outcome: “important progress from these efforts, as mirrored in accelerated top-line development and quickly strengthening working margins,” Graves added.
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