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Why Nano Dimension Shares Are Rising Today

Nano Dimension Ltd (NASDAQ: NNDM) is trading higher Wednesday after the company announced its third-quarter financial results.

Nano Dimension reported a quarterly earnings loss of 7 cents per share, up from a loss of 45 cents per share year-over-year. The company reported quarterly revenue of $1.34 million, up from $438,000 year-over-year.

Nano Dimension ended the third quarter with a cash and deposits balance of $1.385 billion.

“Encouraging as they are, our revenue numbers are still too small in absolute magnitude to derive any meaningful conclusions,” said Yoav Stern, chairman and CEO of Nano Dimension.

Related Link: Nano Dimension Shares Pop On 206% Revenue Growth In Q3 Backed By DragonFly, Fabrica

Nano Dimension said it plans to focus on synergetic mergers and acquisitions, accelerated research and development and revolution in go-to-market efforts.

The previously stated business development pillars “are planned to converge and are designed to fuel a mutually accelerated scalable growth,” Stern said.

Nano Dimension is engaged in research and development of a three-dimensional printer that prints electronic circuit boards, also known as printed circuit boards, and ink materials and products based on nanotechnology.

NNDM Price Action: Nano Dimension has traded as high as $17.89 and as low as $4.45 over a 52-week period.

The stock was up 11.60% at $5.15 at time of publication.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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