5 Best Low Cost Tech Stocks to Buy Right Now

2. 3D Systems Corporation (NYSE:DDD)

Number of Hedge Fund Holders: 18

Share Price (as of January 4): $21.42

3D Systems Corporation (NYSE:DDD) engages in the provision of 3D printing solutions, including 3D printers, scanners, materials and software. 3D printing, also known as additive manufacturing, is an industry expected to grow to $34.8 billion in value by 2026, and has the ability to disrupt traditional manufacturing across the globe. With a market cap of $2.81 billion, 3D Systems Corporation (NYSE:DDD) is one of the leading companies in the 3D printing segment.

In the third quarter, 3D Systems Corporation (NYSE:DDD) reported earnings per share of $0.08, beating consensus estimates by $0.03. The company’s quarterly revenue stood at $156.10 million, which was above estimates by $11.64 million. As of December 27, shares of 3D Systems Corporation (NYSE:DDD) rose 90.65% in the last 12 months.

In November, Lake Street analyst Troy Jensen initiated coverage of 3D Systems Corporation (NYSE:DDD) with a ‘Buy’ rating and a $36 price target. The firm’s analyst noted that the company has made significant strides in material development and healthcare applications, and has effectively repositioned itself as a pure-play additive manufacturing firm.

As of the third quarter, 18 hedge funds were long 3D Systems Corporation (NYSE:DDD), compared to 20 in the previous quarter.