News blog

DDD Group

• BY: Andrew Hore |
• POSTED: 11/11/2013 |

Investor Bob Morton has bought a further 1m shares in 3D technology developer DDD Group taking his stake to 3.58%.

Last month, BlackRock cut its stake to below 3%, having reduced it to 3.94% during the summer. Non-executive chairman Nicholas Brigstocke bought 200,000 shares at 6p each at the same time. Earlier in the month, he bought 200,000 shares at an average share price of 5.6875p.

A decline in demand from the PC market meant that interim revenues dipped from $4.03m to $2.36m and DDD fell into loss. Demand is growing in the tablet market. Forecasts were downgraded at the time of the interims.

A joint development agreement was signed with a subsidiary of InterDigital Corporation during September in order to investigate the potential for using the companies’ technology to come up with a product for streaming video to mobile devices and smart TVs. The new partner bought just over 7m shares at 8.175p a share.

At 6.13p a share, DDD is valued at £8.81m. Net cash was $2.95m at the end of June 2013.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2013_49.pdf