Boston, MA 08/25/2014 (wallstreetpr) – A major shareholder, Novel Century Ventures Ltd, had continued its activities of divesting part of its stake in the 3-D printing machines and products provider ExOne Co (NASDAQ:XONE). The current available data indicates that the major shareholder had resorted to selling shares in the first four days of trading last week, i.e. Monday to Thursday.
Sale of Shares
The venture company, which was a 10% owner in ExOne Co (NASDAQ:XONE), had continued its selling streak by off-loading 42,531 shares on August 20 at the rate of $27.11, according to a company’s filing with the Securities and Exchange Commission or the SEC. The major shareholder realized an amount of $1.15 million from the sale of shares.
On August 21 also, Novel Century Ventures had sold 100K shares at an average cost of $26.69 a share based on the SEC document. This had fetched the venture company an amount of $2.67 million. There was no guarantee that the company would have either sold or not divested the shares on Friday, August 22, since the details were not available.
In both the transactions, the sale price indicated a premium of 11.4% and 9.7% respectively over the 52-week low price of $24.34. However, the shares were sold at a steep discount of around 63% compared to the year-high price of $72.90. During the two-day transactions, Novel Century had sold approximately 142.5K shares to realize an amount of about $3.82 million.
Earlier Sale
The venture company had also resorted to selling shares on August 18 and 19. The company had divested 149,410 shares at the rate of $27.18 and realized $4.06 million from the sale.
Similarly, the major shareholder had off-loaded 100K shares in two transactions on August 19. While 400 shares were sold at $28.22, the remaining 99.6K shares fetched $27.35 a share. Both the transactions yielded revenue of $2.74 million.
On August 13 and 14 too, Novel Century Ventures had sold 80,507 and 92,374 shares of ExOne respectively. Both the sale fetched the company around $5.04 million.
In the current month of August alone, Novel Century Ventures had divested 564,822 shares at different prices and different dates. However, it had realized approximately $15.66 million from the sale of ExOne Co (NASDAQ:XONE) shares in the current month.
