In a report released today, Robert Burleson from Canaccord Genuity assigned a Buy rating to Nano Dimension (NASDAQ: NNDM), with a price target of $2. The company’s shares closed on Friday at $1.34, close to its 52-week low of $1.21.
“We are initiating coverage of NNDM with a BUY rating and $2 price target. We believe NNDM’s 3D printing solution for printed circuit boards (PCBs) and other three dimensional printed electronics will disrupt PCB prototyping and short-run production by offering manufacturers and design engineers unparalleled design flexibility and substantially shorter lead-times. Importantly, recent execution appears to be on plan, including an expansion of channel partners that are dramatically increasing awareness for the company’s first commercial product, the DragonFly 2020. Longer term, we see significant market potential in aerospace and defense, especially considering this industry’s heightened IP concerns, as well as industrial IOT, where PCBs serve as critical building blocks and production runs tend to be short.”
According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.0% and a 60.3% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as Ipg Photonics Corp, Faro Technologies, and 3D Systems.
Currently, the analyst consensus on Nano Dimension is Moderate Buy and the average price target is $4.50, representing a 235.8% upside.
In a report issued on May 17, National Securities Corp also maintained a Buy rating on the stock with a $7 price target.
The company has a one-year high of $7.60 and a one-year low of $1.21. Currently, Nano Dimension has an average volume of 48.9K.
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Nano Dimension Ltd. is engaged in development of a three-dimensional (3D) printer that prints electronic circuit boards (PCBs), and ink materials and products based on nano-technology. Its products consist of two main product lines-Dragonfly 2020 3D printer and proprietary ink products. The company was founded in 2012 and headquartered in Ness Ziona, Israel.