10 Worst 3D Printing and Additive Manufacturing Stocks To Buy

7. Align Technology (NASDAQ:ALGN)

Short % of Float: 3.93%  

Number of Hedge Fund Investors in Q2 2024: 47  

Align Technology (NASDAQ:ALGN) is a medical device company that specializes in designing, manufacturing, and marketing 3D digital dentistry products and services. The company uses 3D scanning and digital technology to design and produce its custom aligners and is is best known for its Invisalign product, a clear aligner system used for orthodontic treatment.

Align Technology (NASDAQ:ALGN) has invested heavily in research and development and has launched several innovative products. The company recently launched the Palatal Expander system, a 3D-printed orthodontic device that addresses the need for widening the upper arch in growing patients. The system has received positive feedback from doctors and patients and is expected to be a significant growth driver for the company.

Align Technology (NASDAQ:ALGN) is expanding its presence in international markets, particularly in Asia Pacific, with a large and growing demand for clear aligners. In Q1, the company reported that international shipments grew 17.5% year-over-year, driven by strong demand in Asia Pacific. The company is well-positioned to capitalize on this growth, with a strong distribution network and partnerships with local dental professionals.

The demand for clear aligners is growing rapidly, driven by increasing awareness and adoption of orthodontic treatment among consumers. According to a report by Fortune Business Insights, the global clear aligners market was valued at $4.66 billion in 2024 and is forecasted to reach $28.15 billion by 2032, exhibiting a CAGR of 25.2%. Align Technology (NASDAQ:ALGN) is well-positioned to capitalize on this growth, with its Invisalign product being the market leader in the clear aligner market. Despite 3.93% of shares being shorted, 47 hedge funds showed a bullish stance on the stock as of the second quarter and own stocks worth $1.11 billion. Citadel Investment Group is the largest shareholder in the company, holding $21.47 million worth of stock as of June 30.