Voxeljet (VJET) is on a rocket ride.
The first 3D printer maker to go public since ExOne (XONE) in February rode the field's momentum, as the IPO popped in its stock market debut Friday.
Germany-based Voxeljet stock had doubled in afternoon trading Friday, after the company rolled out its initial public offering by selling 6.5 million shares at $13 apiece.
The price, though, was at the low end of its expected range of $13 to $15.
Voxeljet produces large-format 3D printing machines and on-demand parts services, which are sold to customers in automotive, aerospace, film, entertainment, art, architecture, engineering and consumer product sectors.
In February, 3D printer maker ExOne launched at $18 a share, closed its first day at 26.52 and was trading near 54.30 Friday afternoon, up 2.5%.
The only other publicly traded 3D printer makers have also had top-performing stocks, as the manufacturing technology is fast gaining steam in business and even consumer markets. The largest, 3D Systems (DDD), was up 1% near 57, and is up more than 60% for the year. Stratasys (SSYS) stock was up 2% near 112, and it's up 40% in 2013.
Research firm Gartner recently predicted big growth for the 3D printer market, as IBD reported.
In its IPO filings, Voxeljet said it has a global installed base of 52 printers. It said 2012 revenue rose 20% to 8.7 million euros, or $11.3 million. It said profit rose 393% to 212,000 euros, or $276,000.
In the first six months of the year ended June 30, Voxeljet reported revenue of 4.4 million euros ($5.8 million), down 3.5% from the year-earlier period. In that span, it said it swung to a loss of 376,000 euros ($489,000) from a profit of 319,000 euros.
Voxeljet plans to use the funds from the offering to expand its on-demand parts service center in Europe and build new on-demand parts service centers in North America and Asia. The company also expects to boost its R&D and marketing efforts and set some of the cash aside for acquisitions.
Voxeljet stock was near 26.75 in afternoon trading in the stock market Friday.