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NNDM

Nano Dimension

$0.52

(0.00%)

05:43
07/08/19
07/08
05:43
07/08/19
05:43

Nano Dimension announces steps to reduce expenses, headcount reduction of 20%

Nano Dimension announced several corporate updates. "Since Nano Dimension introduced the DragonFly Pro to the electronics market six quarters ago, the company successfully built a global reseller channel and delivered dozens of systems to end users printing thousands of PCBs. Working closely with key aerospace, defense and consumer electronics customers, it is becoming increasingly clear that 3D printed electronics is a transformative force in the electronic industry and one of the highest growth potential segments within the additive manufacturing market." Amit Dror, CEO of Nano Dimension said, "In the coming weeks, after a year of extensive product development in close cooperation with select customers, the company plans to launch a new system within the DragonFly family. This new 3D printer delivers substantial performance improvements and mission critical features that were developed in direct response to customer needs. The new system is expected to significantly increase the value for our existing and targeted customers and fuel further revenue growth as we expand our end user universe and use cases." Concurrent with the eminent product launch mentioned above, the company took decisive steps to reduce its operating expenses. The restructuring included a headcount reduction of approximately 20%. These actions are expected to reduce the company's use of cash in the coming periods. Separately, the company is announcing that Simon Fried, Co-Founder and former President of North America, has decided to step down from his executive role, to pursue other opportunities. Fried will continue to serve on the company's board of directors and to advise the company to ensure a smooth transition. "Nano Dimension plans to strengthen its efforts to accelerate the adoption of its products, with the sole purpose of expanding its customer use cases from prototyping to production," said Mr. Dror. "We believe that the combined actions we have taken position the company's products and structure better for sustainable growth. We strongly believe in our technology, which is second to none, and in the disruptive changes it is leading in the electronics industry," Dror concluded.

NNDM Nano Dimension
$0.52

(0.00%)

01/29/19
LSCM
01/29/19
NO CHANGE
Target $2.5
LSCM
Buy
Nano Dimension price target lowered to $2.50 from $3 at Lake Street
Lake Street analyst Eric Martinuzzi lowered his price target for Nano Dimension to $2.50 saying he's a "bit disappointed" by the company's unit sales in Q4. He modeled for 12 units, but the company only shipped 10, which was the same as the prior quarter. The analyst, however, says Nano Dimension's long-term investment opportunity is "as compelling today as it was a year ago." Martinuzzi keeps a Buy rating on the shares.
03/14/19
LSCM
03/14/19
DOWNGRADE
LSCM
Hold
Nano Dimension downgraded to Hold from Buy at Lake Street
03/15/19
LSCM
03/15/19
DOWNGRADE
Target $1
LSCM
Hold
Nano Dimension downgraded to Hold from Buy at Lake Street (yesterday)
Lake Street analyst Eric Martinuzzi yesterday afternoon downgraded Nano Dimension to Hold from Buy and cut his price target for the shares to $1.00 from $2.50. Over 75% of the company's revenue guidance is expected in the second half of the year, "which implies a pretty steep ramp," Martinuzzi told investors in a research note. The analyst points out that in 2018, second half revenue represented 66% of full year revenue.

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