Tuesday, August 9, 2022

3D Systems jumps 11% on rumors GE may be circling

With a big commitment to using cutting edge technology for its manufacturing operations, GE may be interested in buying South Carolina’s 3D Systems, some industry experts speculate. But not every one is on board:  20% of 3D Systems’ shares are sold short, suggesting many investors view the company as overvalued.

These were the best performing Carolinas-based stocks included in the Capital Investment Cos./Nottingham Index of public companies for the week ending Jan. 13.

3D Systems (DDD) 11.4% – Rumors of a buyout of the 3D printing company boosted shares. Potential buyers include GE, Motley Fool and others reported. Company’s market value is $1.8 billion.

Qorvo (QROV) 8.7% –  Greensboro-based company makes radio-frequency equipment, has 8,000 employees and is valued at about $7.5 billion. It has gained 60% in the last year.

SPX Flow (FLOW) 5.7% – Shares of Charlotte-based industrial-products company have increased more than 50% since it was spun out of SPX Corp. It has a market value of $8 billion.

The weakest performers:

World Acceptance (WRLD)  -7.9% – Brokerages Stephens and Jeffries downgraded the Greenville, S.C.-based company that makes high-interest consumer loans. Shares gained 72% in the last year.

Culp  (CFI)  -5.6% – High Point-based mattress-ticking maker sank for a second-straight week, but has gained 55% in the last year.

Tanger Factory Outlet Centers (SKT)  – 4.8% – Greensboro-based mall operator has outperformed many peers, posting 13% return over last 52 weeks even as more shoppers opt for internet purchases. Market value is $3.4 billion.

David Mildenberg
David Mildenberg is editor of Business North Carolina. Reach him at dmildenberg@businessnc.com.

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