What happened
3D Systems (DDD 0.89%) shareholders trailed a declining market in September as the stock fell 11% compared to the S&P 500's 3.9% drop, according to data provided by S&P Global Market Intelligence.
That decline added to slumping returns for the 3D printing specialist, which is down over 40% so far in 2020.
So what
The company didn't issue any operating updates last month, but it was still a busy period for the business. 3D Systems has just welcomed a new chief financial officer after appointing a new CEO in May.
Image source: Getty Images.
Its last earnings report, in early August, showed a 29% sales decrease and continuing net losses. Jeffrey Graves, who recently took over the company's leadership, said the results bolstered his judgement that the company needed to significantly reduce its cost burden across its manufacturing and corporate infrastructure.
These moves, "should enable the company to be profitable at current revenue levels," he said, while positioning 3D Systems for improving results once the industry emerges from the recession.
Now what
September's swoon pushed 3D Systems' stock down to a new 10-year low, which could make it attractive for investors seeking value or rebound opportunities. However, with a new leadership team and an uncertain recovery path ahead, it might make more sense to follow the next few quarterly reports before making large bets on these shares.
