|A Hidden Value in the Tech Innovation Sector|
Poised for rapid growth
NNDM has remarkable new technology
Good day everyone,
Today we are initiating coverage on Nano Dimension Ltd. (NASDAQ: NNDM), a company that operates as an additive electronics provider. The company offers DragonFly Pro and DragonFly LDM precision systems for additive manufacturing of printed electronics. It also develops conductive and dielectric ink.
Current price $3.00 per share
52-week range $2.15 to $21.30
Outstanding shares (est.) 4.11 million
Float (est.) 2.59 million shares
Book value $5.65 per share
NNDM has scheduled their Q3 earnings release for November 13, 2019 but the company has released some preliminary financial data. On October 30th, the company released unaudited estimates of financial results for the third quarter of 2019 and reported record quarterly revenues of approximately $2,200,000 for the third quarter of 2019, which represents 32% growth year-over-year.
Additionally, Nano Dimension introduced 3D printed capacitors embedded in additively manufactured printed circuit boards (PCBs), saving space and eliminating the need for assembly.
The company ended the third quarter of 2019 with approximately $5.5 million in cash on its balance sheet.
Sales have improved as the company sells more of its DragonFly LDM systems (just rolled out in July). The Lights-Out Digital Manufacturing (LDM) is a manufacturing methodology in which systems run with little to no human intervention, around the clock. In the case of additive manufacturing, LDM means DragonFly users can 3D-print more functioning electronic circuitry faster.
NNDM recently announced that it has signed a multi-year Memorandum of Understanding (MoU) with Chungbuk Technopark in South Korea.
The partnership has already resulted in novel applications for the electronics sector, including a fully functional 3D printed IoT communication device that can shorten development times for IoT devices by up to 90%, compared to traditional devices. The extra space afforded through embedding capacitors and side mounting allows design engineers to pack more functionality on the circuit board which is particularly relevant for IoT and Industry 4.0
NNDM sells its manufacturing technology along with upgrades and support.
We don’t normally go into a company’s technology to this extent, but NNDM is on the leading edge of tomorrow’s technological advances such as 5G and IoT and industry 4.0. The DragonFly system(s) 3-D prints circuitry, 24 hours a day, virtually without human intervention. That’s amazing.
As you do your due diligence, also consider:
NNDM shares are trading at 86% below their 52-week high.
The price/sales ratio is 1.98X. That ratio could drop significantly when the Q3 revenues are officially released in a couple days.
NNDM has a tiny float (2.96M shares) and a book value significantly over the share price.
2 Wall Street analysts have issued ratings and price targets for NANO DIMENSION/S in the last 12 months. Their average twelve-month price target is $4.75, suggesting that the stock has a possible upside of 60.47%.
When we couple the recent revenue growth, the favorable share structure and the other value metrics at NNDM, we believe we may have discovered a rare investment opportunity.
As the chart below indicates, NNDM shares are trading below their 50 DMA and 200 DMA of $3.42 and $5.41 respectively. The current RSI (14) is 40.97. These data indicate shares that may be oversold.
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