Despite an up-and-down performance so far in 2021, Nano Dimension (NASDAQ:NNDM) stock has had an extraordinary 12-month run.

The Israeli 3D printing company is up only 1.65% year-to-date, but that includes wild swings that saw the NNDM stock price soar by 83% and tumble by more than 50%.

Over the last 12 months, however, Nano managed to break out of penny stock status and climb as much as 2,400% before slipping in February. Even with that stumble, however, NNDM stock is up about 1,142% over the last 12 months.

Is this the sign of more to come? Or is the bubble beginning to pop for NNDM stock?

What Is Nano Dimension?

Nano Dimension specializes in the research and development of 3D printed products. Through products such as its DragonFly Pro printer, it can use insulated materials and electrically conductive materials.

That allows users to create fully functional electronics in-house. In addition, it potentially reduces the time needed to iterate designs quickly, reduce the cost of errors and bring products to market rapidly.

Nano says the demand for electronic devices with increasingly complicated circuitry gives it a vast market of potential customers. The DragonFly printers are already being used by the Department of Defense. And they have use for consumer electronics, medical devices, aerospace, telecom and more.

In March, the company announced that it fabricated the first integrated RF circuit for use on the International Space Station. The circuit, which was designed by L3Harris Technologies (NYSE:LHX), will be used as within a space effects study.

As you’re probably aware, defense contracts can be extremely lucrative. So, the idea of Nano working directly with the Defense Department and the U.S. space program bodes well for Nano’s growth potential, says Cathie Wood, Ark Funds CEO and founder. Several of ARK Funds’ exchange-traded funds hold NNDM stock.

“We always look for where the defense is putting their money,” she told Benzinga’s Raz Report.

NNDM Stock at a Glance

Nano Dimension has been raising cash, quickly. In fact, the company raised more than $1.4 billion over the last six months.

InvestorPlace’s Mark Hake documented Nano Dimension’s efforts to raise money with a series of eight direct offerings at increasingly higher prices.

The company says it’s using the money, in part, for potential acquisition targets in Europe. But he says it’s a challenging task. The price of potential acquisitions is also increasing, he says, because of the rapid pace of special purpose acquisition company (SPAC) deals.

But it’s also fair to say that the frequency of public offerings has successfully weighed on the stock price over the last few weeks.

The company reported earnings for the fourth quarter and the full year on March 11. Fourth quarter revenue of $1.97 million beat analysts’ expectations.

The loss for the quarter was $17.44 million, or 20 cents per share.

For the full year, NNDM reported revenues of $3.34 million, which was a drop from $7 million 2019. Company officials blamed the downturn on effects from the Covid-19 pandemic.

The company recorded a full-year loss of $48.49 million, or $1.13 per share. That was an improvement from 2019, when the company lost $8.35 million and $2.38 per share.

Nano Dimension ended the year with $670.9 million in cash and bank deposits, and a balance of almost 1.5 billion according to CFO Yael Sandler.

The Bottom Line

While the repeated public offerings are weighing on the share price, Nano Dimension is an interesting – if not exciting – venture. 3D printing has a lot of benefits to create products quicker and with less expense. It accelerates innovation and imagination, and that’s an exciting place for an investor to be.

NNDM stock has a “B” rating and a buy recommendation in my Portfolio Grader.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.

Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation.