Stratasys (NASDAQ:SSYS) Sees Large Volume Increase – Time to Buy?

Shares of Stratasys Ltd. (NASDAQ:SSYS) saw unusually-high trading volume on Tuesday . Approximately 416,347 shares traded hands during mid-day trading, a decline of 33% from the previous session’s volume of 621,148 shares.The stock last traded at $11.94 and had previously closed at $11.31.

Analysts Set New Price Targets

SSYS has been the topic of a number of recent analyst reports. StockNews.com upgraded Stratasys from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. Craig Hallum lifted their target price on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price target on shares of Stratasys in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $12.00 price target on shares of Stratasys in a report on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Stock Up 1.6 %

The stock has a 50 day moving average of $9.53 and a 200 day moving average of $8.40. The company has a market capitalization of $907.95 million, a price-to-earnings ratio of -9.50 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The firm had revenue of $140.00 million for the quarter, compared to analyst estimates of $139.49 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was down 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stratasys Ltd. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Stratasys

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Stratasys during the fourth quarter worth approximately $90,000. ARK Investment Management LLC grew its holdings in Stratasys by 8.7% during the fourth quarter. ARK Investment Management LLC now owns 703,525 shares of the technology company’s stock worth $6,254,000 after buying an additional 56,304 shares in the last quarter. RPG Investment Advisory LLC grew its holdings in Stratasys by 64.6% during the fourth quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company’s stock worth $9,658,000 after buying an additional 426,341 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Stratasys by 53.1% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company’s stock valued at $10,255,000 after purchasing an additional 400,000 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Stratasys by 0.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,399,898 shares of the technology company’s stock valued at $12,445,000 after purchasing an additional 9,522 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

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.