Stratasys (NASDAQ:SSYS) Sees Large Volume Increase – Still a Buy?

Stratasys Ltd. (NASDAQ:SSYS) shares saw unusually-strong trading volume on Monday . Approximately 1,336,867 shares changed hands during trading, an increase of 162% from the previous session’s volume of 510,794 shares.The stock last traded at $9.91 and had previously closed at $9.44.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC upped their price objective on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Lake Street Capital decreased their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Loop Capital lowered their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Craig Hallum boosted their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com started coverage on shares of Stratasys in a research note on Monday, September 2nd. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Price Performance

The company’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $8.17.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings data 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 business had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.49 million. During the same quarter last year, the business posted ($0.05) EPS. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. Sell-side analysts forecast that Stratasys Ltd. will post -0.41 EPS for the current year.

Hedge Funds Weigh In On Stratasys

A number of institutional investors and hedge funds have recently modified their holdings of SSYS. Invenomic Capital Management LP acquired a new stake in Stratasys in the third quarter valued at $10,916,000. Clearline Capital LP acquired a new stake in shares of Stratasys during the 2nd quarter worth about $9,301,000. Rubric Capital Management LP lifted its stake in Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock worth $50,077,000 after purchasing an additional 918,703 shares during the last quarter. RPG Investment Advisory LLC boosted its holdings in Stratasys by 29.6% in the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock valued at $5,485,000 after purchasing an additional 150,891 shares in the last quarter. Finally, RBF Capital LLC purchased a new position in Stratasys in the third quarter valued at approximately $1,080,000. 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.