StockNews.com Initiates Coverage on Stratasys (NASDAQ:SSYS)

StockNews.com started coverage on shares of Stratasys (NASDAQ:SSYS) in a report published on Wednesday. The firm issued a buy rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued an overweight rating and issued a $23.00 target price on shares of Stratasys in a research note on Thursday, May 30th. Craig Hallum cut their price objective on Stratasys from $16.00 to $14.00 and set a buy rating on the stock in a research report on Monday, July 1st. Finally, Needham & Company LLC reduced their price objective on Stratasys from $16.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, May 30th.

Stratasys Trading Up 0.6 %

Shares of SSYS opened at $8.91 on Wednesday. Stratasys has a twelve month low of $8.02 and a twelve month high of $19.97. The firm has a market capitalization of $620.67 million, a P/E ratio of -4.87 and a beta of 1.21. The stock’s fifty day simple moving average is $8.81 and its 200 day simple moving average is $10.70.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). The company had revenue of $144.05 million for the quarter, compared to the consensus estimate of $147.53 million. Stratasys had a negative return on equity of 2.68% and a negative net margin of 20.38%. Sell-side analysts predict that Stratasys will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Stratasys

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Stratasys during the fourth quarter worth approximately $6,706,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Stratasys by 10.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,028,580 shares of the technology company’s stock valued at $14,688,000 after purchasing an additional 100,000 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Stratasys by 49.0% during the fourth quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock worth $467,000 after purchasing an additional 10,747 shares during the last quarter. Rubric Capital Management LP grew its stake in Stratasys by 366.7% in the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock worth $60,690,000 after purchasing an additional 3,339,367 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in Stratasys by 38.3% during the 4th quarter. Gabelli Funds LLC now owns 165,947 shares of the technology company’s stock worth $2,370,000 after buying an additional 45,957 shares during the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

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.