We recently published a list of The 10 best 3D printing and additive manufacturing stocks to buy. In this article, we take a look at Nano Dimension Ltd. (NASDAQ:NNDM)’s position compared to other 3D printing and additive manufacturing stocks.
The additive manufacturing industry is one of the most revolutionary areas of the general manufacturing and industrial sectors. Today, 3D printing is used in many fields, such as medical equipment manufacturing, metal fabrication, home construction, and even dentistry. Given the widespread use of 3D printing technology in many fields around the world, the 3D printing and additive manufacturing industry is considered a high-growth area in manufacturing, and many investors are closely watching 3D printing stocks and adding them to their portfolios. For example, Cathie Wood, a renowned growth investor, runs a special exchange-traded fund (ETF) that focuses exclusively on manufacturing technology and 3D printing stocks.
Growing interest and engagement in additive manufacturing
The impact and growth potential of the additive manufacturing industry is felt not only in the markets but also at the federal level. In 2022, the Biden administration launched the Additive Manufacturing Forward initiative to promote the use of additive manufacturing and 3D printing in the U.S. The initiative was driven by the profitable and attractive use cases of 3D printing. For example, General Electric’s use of additively manufactured fuel nozzles for commercial aircraft engines was cited by the White House as the reason why its fuel nozzles achieved 30% cost savings while being 25% lighter and five times more durable than conventional fuel nozzles.
It is not only the government that is interested in 3D printing companies and technologies. Many technology companies have also launched products in the field of 3D printing and additive manufacturing to establish their presence in this field. Microsoft has developed and launched a 3D Builder application and is also in the market with its own 3D printers. Autodesk is known for its Autodesk Fusion, an important tool for preparing 3D models for printing. Finally, HP is known for its Multi Jet Fusion 3D printing technology, among other products in this field.
Some may feel that the additive manufacturing industry is lagging behind other areas of the market. However, a closer look at the performance of individual stocks in this industry shows that many of them are performing well financially and can be considered good investments today.
Given the high growth potential of 3D printing stocks in today’s market, especially with the increasing use of additive manufacturing in various fields, we have compiled a list of the best 3D printing and additive manufacturing stocks to buy right now. You can also take a look at the best 3D printing companies in the US and what’s been happening with 3D printing stocks.
Our methodology
We selected the top holdings of Cathie Wood’s 3D Printing ETF and ranked them in ascending order by the number of hedge funds that own shares in them, using Insider Monkey’s hedge fund data for the first quarter of 2024.
Why do we care about the stocks hedge funds invest in? The reason is simple: Our research shows that we can outperform the market by mimicking the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (See more details here.)
A close-up of a high-performance electronic component with its details illuminated in the light.
Nano Dimension Ltd. (NASDAQ:NNDM)
Number of hedge fund owners: 10
Nano Dimension Ltd. (NASDAQ:NNDM) is a technology hardware, storage, and peripherals company based in Ness Ziona, Israel. The company is currently in the process of acquiring another 3D printer, Desktop Metal.
Nano Dimension Ltd.’s (NASDAQ:NNDM) preliminary second quarter report shows sequential growth for the company. Unaudited revenue of $14.8 million was reported for the quarter, which was actually slightly higher than the $14.74 million reported in Q2 2023, representing a sequential increase of 11% year over year. Investors should consider buying this stock considering its growth and ability to take on notable competitors at a good price for itself. The acquisition of Desktop Metal comes with Nano Dimension Ltd. (NASDAQ:NNDM) willing to pay just $4.07 per share, or $135 million, assuming the company’s closing costs are higher than expected or the deal goes into 2025.
During the first quarter, 10 hedge funds held long positions in Nano Dimension Ltd. (NASDAQ:NNDM) with a total holding value of $77.5 million.
Total NNDM takes 10th place on our list of the best 3D printing and additive stocks to buy. You can visit The 10 best 3D printing and additive manufacturing stocks to buy to see the other 3D printing and additive stocks that are on hedge funds’ radar. While we recognize NNDM’s potential as an investment, we believe AI stocks are more promising to deliver higher returns and do so in a shorter time frame. If you’re looking for an AI stock that’s more promising than NNDM but trades at less than 5x earnings, read our report on the cheapest AI stock.
READ MORE: Analyst sees a new $25 billion “opportunity” for NVIDIA And Jim Cramer recommends these 10 stocks in June.
Disclosure: None. This article was originally published on Insider Monkey.
