Stratasys (NASDAQ:SSYS) Shares Gap Up – Here’s Why

Stratasys Ltd. (NASDAQ:SSYS) gapped up before the market opened on Wednesday . The stock had previously closed at $8.39, but opened at $10.30. Stratasys shares last traded at $10.04, with a volume of 898,128 shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cantor Fitzgerald reduced their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Lake Street Capital reduced their price objective on 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 reduced their price objective on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 30th. StockNews.com initiated coverage on Stratasys in a research note on Monday, September 2nd. They set a “hold” rating for the company. Finally, Loop Capital reduced their price objective on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Trading Up 20.4 %

The company has a market cap of $720.94 million, a PE ratio of -6.06 and a beta of 1.21. The business has a 50 day simple moving average of $7.42 and a two-hundred day simple moving average of $8.18.

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

Institutional Trading of Stratasys

Large investors have recently modified their holdings of the business. Crewe Advisors LLC acquired a new stake in shares of Stratasys during the first quarter valued at about $61,000. Quantbot Technologies LP bought a new position in Stratasys in the third quarter worth about $90,000. Values First Advisors Inc. lifted its holdings in Stratasys by 51.3% in the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after acquiring an additional 11,254 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Stratasys by 510.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock worth $563,000 after acquiring an additional 56,699 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Stratasys by 4.0% during the first quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock valued at $565,000 after buying an additional 1,850 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.

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.