Shapeways (NYSE:SHPW) Raised to “Hold” at Zacks Investment Research

Shapeways (NYSE:SHPWGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Shapeways Inc. is a digital manufacturing industry combining with manufacturing powered by purpose-built proprietary software which enables customers to transform digital designs into physical products. Shapeways Inc., formerly known as Galileo Acquisition Corp, is based in NEW YORK. “

Other equities research analysts have also recently issued reports about the company. Craig Hallum reduced their price objective on Shapeways from $10.00 to $5.00 in a research note on Friday, April 1st. Lake Street Capital reduced their price objective on Shapeways from $5.50 to $3.50 in a research note on Friday, April 1st. Stifel Nicolaus reduced their price objective on Shapeways from $12.00 to $4.50 in a research note on Friday, April 1st. Finally, Needham & Company LLC cut their target price on Shapeways from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, April 1st.

Shares of NYSE:SHPW traded down $0.06 during mid-day trading on Tuesday, reaching $2.74. The stock had a trading volume of 1,143 shares, compared to its average volume of 186,239. Shapeways has a 1 year low of $2.11 and a 1 year high of $12.81. The business has a 50 day moving average of $2.80.

In related news, major shareholder Ventures V. (Jersey) L.P Index sold 513,804 shares of the stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $2.33, for a total value of $1,197,163.32. Following the transaction, the insider now owns 4,793,933 shares of the company’s stock, valued at $11,169,863.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC purchased a new stake in Shapeways during the third quarter worth $77,000. Goldman Sachs Group Inc. purchased a new stake in Shapeways during the fourth quarter worth $40,000. Morgan Stanley purchased a new stake in Shapeways during the third quarter worth $120,000. Whitebox Advisors LLC purchased a new stake in shares of Shapeways during the 3rd quarter valued at $193,000. Finally, Northern Trust Corp purchased a new stake in shares of Shapeways during the 4th quarter valued at $107,000. Institutional investors own 77.73% of the company’s stock.

About Shapeways (Get Rating)

Shapeways Holdings, Inc facilitates the design, manufacture, and sale of 3D printed products in the United States, Europe, and internationally. The company offers an end-to-end digital manufacturing platform on which the users can transform digital designs into physical products under the Otto brand.

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