Currently, NNDM stock is trading at the price of $.17, which is a nice discount to the price of the SPY ETF (SPY), a stock market index that tracks the Standard & Poor’s 500. Moreover, the company has shown positive earnings for the last quarter, suggesting that it could have good potential for the future. It’s a very promising stock that investors should consider.
NNDM is a US-based computer hardware company with 345 employees. The stock is listed on the NASDAQ and has a trailing 12-month revenue of $39.1 million. It also has plenty of cash on its balance sheet. The company is in the middle of a wave two correction but should get back on track.
The 60-Month Beta is an indicator of the relative volatility of the stock’s returns, based on a 60-month regression of its returns on the S&P 500’s returns. The NASDAQ’s NASDAQ OMX index, which tracks stocks on the exchange, has a beta of 1.01. The U.S. News Best Stocks website, which is provided by Morningstar, has a beta of.07. Its best stock is Nano Dimension.
The company’s top line is a tad on the small side for a tech company, but its earnings are up. Its most impressive financial performance is its trailing twelve months earnings per share, which is the bottom line income after all expenses.
Correlation to SPY ETF
Using an exchange-traded fund (ETF) to track the S&P 500 Index is common among professional investors. These ETFs are often used as benchmarks for retail investors and can be a valuable tool for dampening volatility without sacrificing performance. However, market risk can be a factor, and the only way to avoid choppy markets is to diversify. Unless you only have cash, you can only do so by holding a variety of low-correlation stocks.
The S&P 500 is an index of large-cap U.S. equities that is considered a barometer of the U.S. stock market’s performance. It is composed of 502 large-cap U.S. stocks, which are ranked by their total return. Investing in defensive stocks, which have a positive return on assets and are generally regarded as safe, can provide higher-than-average income and a higher-than-average total return. These stocks tend to have sound fundamentals, positive gross and operating margins, and a higher-than-average dividend yield.
NNDM stock has been on a downward trend since the company reported its most recent earnings. The stock has been trading in a range of 2.11 to 2.45, with the last price of 2.15 closer to the low end. The recent earnings announcement triggered a modest -3.6% decline in the share price. As with any stock that experiences a sell-off, it is worth taking a close look at the numbers. The following table shows the most important metrics for NNDM stock.
The most notable metric is the most recent quarter’s earnings report. It is also worth noting that NNDM last reported earnings on December 1, 2022, before the market opened. The company reported a small profit of a mere $0.26 per share, but still managed to post a net loss of $3.12 million for the year. On the bright side, NNDM’s stock is still up about 51% since the beginning of the year.
NNDM stock is based in Israel and focuses on additive manufacturing and 3D-printed electronics systems. It is the 5265th most valuable company by market cap. The market cap is calculated by multiplying the price of the current stock by the number of shares outstanding. If a company has 10 million shares, the market capitalization would be $100 million. The NASDAQ does not use the market cap to determine if a company meets listing requirements.
NNDM stock has a support price of $2.10 and a resistance price of $2.24. The stock has a 67% chance of trading in the range that is expected. It has a beta of 0.89. The stock has a correlation of 0.20 with the SPY ETF. The stock has a one standard deviation move from the mean. The support price and resistance price are calculated using the 20-day stock volatility.
The Market Cap is the estimated value of the common equity securities of a publicly traded company. It is derived from the last sale price for the displayed class of listed securities. It does not include securities convertible into common equity securities.