Industrials

Can Sigma Labs Bring 3D Printing Back to Life?

Although 3D printing has waned as a trend in recent years, the prospect for this technology remains valid. Sigma Labs Inc. (NASDAQ: SGLB) may not be a household name, but that could change now that the company has announced that it had been awarded a contract by Mitsubishi Heavy Industries (MHI). Sigma Labs shares skyrocketed early on Tuesday.

According to the deal, the firm’s PrintRite3D system will be installed on a laser powder bed fusion system for the development and qualification of MHI additive manufacturing production processes. MHI works across a wide range of industries from commercial aviation and transportation to power plants and gas turbines, and from machinery and infrastructure to integrated defense and space systems.

In a sense, with this deal, Sigma Labs is putting its name on the map. Considering MHI’s broad applications ranging from aerospace components to air conditioners, Sigma Labs will have an ever-increasing number of customers.

Management went so far as to say that the increasing number of customers pursing implementation of PrintRite3D is a testament to the growing industry need for in-process quality assurance.

Sigma Labs hasn’t been around that long. The company was only founded in 2010. However, it is a leading provider in commercial 3D metal printing.

Excluding Tuesday’s move, Sigma Labs stock had underperformed the broad markets, with shares down about 75% year to date. In the past 52 weeks, the share price is closer to 66% lower.

Sigma Labs stock traded up about 50% to $3.71 on Tuesday, in a 52-week range of $0.45 to $7.00. The consensus price target was $5.00.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.