Nano Dimension (NASDAQ:NNDM) stock is roaring up like wildfire to the tune of 140% today after an exciting reveal for investors: the Israel-based 3D printer maker sold its second 3D printed electronics system, the DragonFly 2020 Pro 3D Printer to a U.S.-based defense company, in the top ten biggest defense players worldwide. Notably, the defense company who purchased the NNDM printer installed its first purchase under the umbrella of Nano Dimension’s beta program just last year. To add to investor confidence, NNDM likewise revealed it is officially considered a certified vendor to the U.S. Department of Defense.
Nano Dimension’s U.S. subsidiary has won United States Government Certified Vendor status, having received a Commercial and Government Entity (CAGE) Code from the United States Department of Defense’s Defense Logistics Agency. CAGE codes are used extensively within and by the U.S. federal government.
As a registered and approved vendor, Nano Dimension is positioned to pursue and conduct business directly with the U.S. federal government and its many agencies, including the Department of Homeland Security and other United States Department of Defense entities. The defense sector is a key market for additive manufacturing technologies.
“Receiving a CAGE code is a critical step in affirming Nano Dimension’s position in the United States. Now, as a recognized U.S. government additive manufacturing supplier for defense projects, our DragonFly 2020 Pro 3D printer may play a crucial role in projects such as keeping risks down and solving complex design challenges, while speeding the R&D process up significantly,” said Amit Dror, CEO of Nano Dimension. “We also are pleased to expand our relationship with our existing customers, and open the door to more and more companies who will embrace our 3D printed electronics technology, materials and software, so they can benefit from significant time and cost savings over traditional prototyping processes, to meet rapidly changing demands from defense contractors.”
The DragonFly 2020 Pro 3D printer transforms electronics development by enabling companies to reinvent their development processes as well as their products. The high-resolution system lets designers and engineers 3D-print metal and polymer simultaneously. This technology enables IP secure, in-house, manufacturing or prototyping of functional electronics such as sensors, antennas, molded interconnect devices, printed circuit boards and other innovative circuitry.
TipRanks shows two bulls in the last 3 months positive on this tech player’s market opportunity ahead, with initial word on the Street looking solid for NNDM stock. With a return potential of nearly 43%, the stock’s consensus target price stands at $4.50.