The stock price of ExOne, makers of high-end commercial 3D printers specializing in sand and metal printing, took a 15% tumble yesterday – in sharp contrast to the few other 3D printing company stocks who continued to sail higher.
Why the tumble? Evidently ExOne missed analysts predictions for quarterly sales and per-share losses announced were almost twice as bad as expected.
The company assigned blame to the struggling European economy, which actually makes some sense to us. ExOne does not sell any low-end machines, meaning their customers are large industrial operations that can be subject to budget cutting. ExOne’s strategy is to sell a few units at very high prices – but if the number of units is affected even slightly, they’ll take a big hit, which is what seems to have happened here.
We’re not too concerned, as demand for 3D printing continues to increase. Just because one company has hit a bump doesn’t mean the ride is over.