Heritage Printing NPV (OTCMKTS:HAGE) has sparked investor interest following its recent stock performance. A quick glance shows you that shares of HAGE have risen more than 32% in the last one month, but are still far from their 52-week high of $3.50. Perhaps that says something about the upside potential in the stock given that at its current price of about $0.53, it is rising from a 52-week bottom of $0.40.
Change of name heralds a new focus
Heritage Printing NPV (OTCMKTS:HAGE) is the company that used to go by the name Heritage Action Corp. The company changed its name in June 2016, it actually sent out a brief press release on June 28 announcing the new name. The company has retained its headquarters in Florida, specifically Roca Raton.
Though there was little in the press release to explain why the company was taking on a new name, the new identity itself has some meaning. The new name tells of a company that is looking to make money in the rapidly growing and massively promising 3D printing industry. Heritage Printing NPV (OTCMKTS:HAGE) says its business focus is on developing, producing and commercializing 3D printers.
The opportunity in 3D printing industry
The latest estimates from research firm IDC shows that spending on 3D printing will grow at compound annual growth rate (CAGR) of 24.1% between 2015 and 2020. That tells you that by 2020, spending on 3D printing will almost exceed $35 billion. This year alone, spending on 3D printing is forecast to be $15.9 billion. That tells you that the industry is poised for more than double growth in less than five years. It is no doubt that Heritage Printing NPV (OTCMKTS:HAGE) set its focus on the industry.
Prototyping is one of the activities fueling rapid growth of 3D printing industry.
For a company that has spent years offering IT consulting and outsourcing solutions to corporates and governments, Heritage Printing NPV (OTCMKTS:HAGE) can count on its existing client networks to grow rapidly in 3D printer business.