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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SSYS shares. Loop Capital reduced their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Needham & Company LLC reduced their price target on shares of Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. StockNews.com started coverage on shares of Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Lake Street Capital reduced their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Cantor Fitzgerald cut their target price 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Stock Performance

The firm’s fifty day simple moving average is $7.33 and its 200-day simple moving average is $8.24. The stock has a market cap of $573.18 million, a P/E ratio of -4.93 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $138.00 million during the quarter, compared to analyst estimates of $146.38 million. During the same quarter last year, the business earned ($0.08) EPS. The company’s revenue was down 13.6% compared to the same quarter last year. Analysts predict that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SSYS. Rubric Capital Management LP increased its stake in shares of Stratasys by 18.2% in the 2nd quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after acquiring an additional 918,703 shares in the last quarter. Clearline Capital LP bought a new stake in shares of Stratasys in the 2nd quarter valued at $9,301,000. Pinnacle Associates Ltd. increased its stake in shares of Stratasys by 0.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after acquiring an additional 3,791 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Stratasys by 17.2% in the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after acquiring an additional 120,000 shares in the last quarter. Finally, RPG Investment Advisory LLC increased its stake in shares of Stratasys by 29.6% in the 3rd quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock valued at $5,485,000 after acquiring an additional 150,891 shares in the last quarter. Institutional investors own 75.77% of the company’s stock.

Stratasys Company Profile

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.