Shares in recently-debuted German 3D printing company Voxeljet ($VJET) continued to climb on Monday after holding its IPO on Friday. The company’s up almost 170 percent, trading at over $35 a share on Monday.
Shares Double on First Day
Trading on the New York Stock Exchange under the ticker VJET, Voxeljet raised $84.5 million in its IPO on Friday, selling 6.5 million shares at $13 apiece. However, eager investors clearly felt that the company was worth more, and shares climbed to $28.80 by the end of the day.
Voxeljet enjoys a relatively high profile after its printers were used to make three Aston Martin model cars used as props in Skyfall, the 23rd installment in the James Bond series released last year. Other areas where Voxeljet products are used include the medical, automotive, aerospace, engineering, and consumer goods industries.
Company, Segment, Shows Promise for Investors
With Voxeljet’s rapid climb extending into a second day, there appears to be some general market optimism over the 3D printing segment, with shares in the ExOne (XONE) , Stratasys (SSYS) , and 3D Systems Corporation (DDD) all making major gains so far in 2013.
Francis Gaskins, Director of Research for Equities.com, had placed a “buy” recommendation on Voxeljet’s IPO to subscribers of his IPOpremium.com service prior to Friday’s debut, citing recent innovations as a reason for optimism for Voxeljet investors.
"Unlike some of the 3D competition VJET is targeting the heavy industrial 3D market with big machines," Gaskins said. "VJET currently has first mover advantage in their targeted space, where initial success could translate into big orders.”
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