It's time to examine the trend of Nano Dimension's stock which is part of the 3DE-11 INDEX, a 3D printing stock index tracking the stock performance of 11 leading 3D printing companies listed on exchanges in the United States.
If we examine the stock's chart in the past 24 months, we can easily notice that the stock has been trading sideways, with a strong support level at $2 a share. This level reflects a market cap of $470M, which is 40% lower than the cash the company has.
On the other hand, we can see that over time sellers are unloading shares in lower levels, from $4 a share at 2022, to $3.5-$3.0 a share during 2023.
Image source: Yahoo finance
During this period of time, the short interest were stable, in a range of 12M-17M out of the 235M outstanding stock - less than 10%. This means that investors are on HOLD as regards to their forecast on the future of the company's business in the near future:
Image source: Webull
What's next? The stock is approaching a strong resistant level around $3 a share. To see a change, we need to see a clear breakout, in high volumes, above this level. This could potentially take the stock to $4, reflecting a market cap of almost $1B. If we will not see a breakout, the stock will go back to check again the support level around $2.5-$2.0 a share.
> Any opinions, analyses, prices, or other information contained in this overview are provided as general market information for educational and entertainment purposes only, and do not constitute any investment advice <