Stratasys (NASDAQ:SSYS) Trading Up 6.5% – Here’s Why

Stratasys Ltd. (NASDAQ:SSYS) shares were up 6.5% during trading on Tuesday . The stock traded as high as $7.59 and last traded at $7.59. Approximately 164,969 shares traded hands during trading, a decline of 66% from the average daily volume of 479,843 shares. The stock had previously closed at $7.13.

Analyst Ratings Changes

A number of analysts have commented on SSYS shares. Lake Street Capital cut their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Needham & Company LLC cut their price target on shares of Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Loop Capital cut their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. StockNews.com began coverage on shares of Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating for the company. Finally, Cantor Fitzgerald dropped their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stratasys presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Price Performance

The company has a market capitalization of $573.18 million, a P/E ratio of -4.93 and a beta of 1.21. The company’s 50-day moving average price is $7.33 and its two-hundred day moving average price is $8.24.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. During the same period last year, the firm earned ($0.08) earnings per share. Stratasys’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, analysts anticipate that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

A number of hedge funds have recently bought and sold shares of the business. Gamco Investors INC. ET AL increased its position in Stratasys by 4.0% during the first quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock worth $565,000 after acquiring an additional 1,850 shares during the period. Pinnacle Associates Ltd. grew its stake in Stratasys by 0.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after buying an additional 3,791 shares in the last quarter. ARK Investment Management LLC grew its stake in Stratasys by 0.7% during the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after buying an additional 4,589 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Stratasys during the first quarter worth about $61,000. Finally, Trium Capital LLP grew its stake in Stratasys by 5.6% during the second quarter. Trium Capital LLP now owns 150,948 shares of the technology company’s stock worth $1,266,000 after buying an additional 8,052 shares in the last quarter. 75.77% of the stock is owned by institutional investors.

About Stratasys

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.