Why 3D Systems Stock Is Moving Higher Wednesday

Zinger Key Points
  • 3D Systems announced the signing of a manufacturing agreement after the market closed on Tuesday.
  • The value of the agreement is anticipated to reach a quarter-billion dollars through 2028.

3D Systems Corporation DDD shares are trading higher Wednesday after the company received a purchase agreement.

What Happened: The contract builds upon 3D systems role as a supplier of 3D printing technology for producing clear aligners. Today, the company allows for the manufacture of about one million patient-specific clear aligners per day.

The company announced the signing of this agreement Tuesday after the market closed. The value of the agreement is anticipated to reach a quarter-billion dollars through 2028.

In addition, 3D Systems believes that this agreement builds a strong foundation to expand further into the dental market, including novel technology for the direct printing of clear aligner products.

“3D Systems captured an industry-leading position in digital dentistry many years ago, very early in its evolution,” said Dr. Jeffrey Graves, president and CEO, 3D Systems.

“We believe the dental industry is now poised for a broad-based acceleration in the adoption of additive manufacturing technology that will impact all major dental applications, from tooth alignment and protection, to repair and replacement…”

Related Link: $4M Bet On This Health Care Stock? Check Out These 3 Stocks Insiders Are Buying

DDD Price Action: At the time of publication, 3D Systems shares are trading 21.1% higher at $4.19, according to data from Benzinga Pro.

Image: 911619 from Pixabay

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