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update 1-short-seller citron trashes 3d printer maker voxeljet, shares fall

by:Tuowei     2019-08-15
Increase the background, the share of competitors campaign)Nov 20 (Reuters)-Short-
Seller Citron Research questioned voxeljet AG\'s quarterly results, saying Germany-
London-based 3D printer manufacturers provide loans to customers to create sales and avoid losses in their first results as a listed company.
Shares of voxeljet, which went public last month, plunged 26% on Wednesday.
\"We are not even sure if this sales is in line with revenue. . .
It will depend on who the parties are, and the collectible nature of the receivables, but why would it ruin a good bubble, \"Citron said. (link. reuters. com/zec84v)
Voxeljet produces large 3D printers for prototyping, and customers are Daimler, Ford Motor and 3 m.
The company\'s printers are being used to make three Aston Martin DB5 models for the latest James Bond movie Skyfall.
Voxeljet\'s competitors include 3D Systems Corp. , Stratasys Ltd. and ExOne Co . .
The company went public last month for $13, and since then, its shares have more than doubled until Tuesday\'s close.
The price of the stock is $42.
On the New York Stock Exchange on Wednesday.
In recent years, the cost of 3D printing technology has declined, resulting in the technology finding new applications in the manufacturing field, such as prototyping, and the introduction of small printers for the consumer market. U. S.
In his State of the Union address on February, President Barack Obama said that 3D printing technology \"has the potential to revolutionize the way we make almost everything \". \" (link. reuters. com/fuw85t)
But it is operated by California.
Short based on investors and attention
Andrew, the seller, left, calling the technology hype.
In February, Citroen accused the chief executive of 3D Systems, the biggest-listed 3D printer maker, of exaggerating technological advances and causing a stock bubble in the industry.
Voxeljet\'s revenue grew 77% to 3.
5 million euros ($4. 7 million)
The quarter ended. 30.
The company reported a profit of 0.
€ 11 per share.
Voxeljet scored only 2 out of 100 points on Thomson Reuters StarMine\'s relative valuation model.
The lower the score, the more expensive the stock will be.
Of the four analysts who covered the stock, only one rated it as a \"buy\" and the rest rated it as \"holding \".
\"VJET is the winner on Wall Street,\" Citron said . \"
\"It\'s not even a company, it\'s just a hobby. ” The short-
Sellers set a reasonable price target of $12.
Voxeljet\'s American depositary shares.
When a company\'s share price falls, short sellers like Xiang ron make money.
They sell the borrowed stock and want to buy it back at a lower price and return it to the lender and benefit from the price difference.
Shares of the 3D system fell 9%, while shares of Stratasys fell 6%.
Shares of ExOne fell 9%. ($1 = 0. 74 euros)(
Reports from dolatramani Sruthi lemma and moonlight in Bangalore;
Goldenpandi, editor)
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