Clearline Capital LP Raises Stake in Stratasys Ltd. (NASDAQ:SSYS)

Clearline Capital LP increased its stake in shares of Stratasys Ltd. (NASDAQ:SSYS) by 23.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,367,226 shares of the technology company’s stock after buying an additional 258,603 shares during the period. Clearline Capital LP owned about 1.92% of Stratasys worth $11,362,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Stratasys in the third quarter worth $90,000. Values First Advisors Inc. lifted its holdings in Stratasys by 51.3% during the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock valued at $278,000 after purchasing an additional 11,254 shares during the last quarter. Verition Fund Management LLC bought a new position in Stratasys during the third quarter worth about $322,000. Tidal Investments LLC purchased a new position in shares of Stratasys in the first quarter worth about $598,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 valued at $563,000 after purchasing an additional 56,699 shares during the period. Institutional investors own 75.77% of the company’s stock.

Stratasys Stock Up 0.7 %

Shares of NASDAQ SSYS opened at $9.62 on Monday. The firm has a market capitalization of $686.68 million, a P/E ratio of -7.29 and a beta of 1.21. The stock’s 50-day simple moving average is $8.09 and its two-hundred day simple moving average is $8.17. Stratasys Ltd. has a twelve month low of $6.05 and a twelve month high of $14.93.

Stratasys (NASDAQ:SSYS) last announced its 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. The business had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.49 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. Stratasys’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, research analysts anticipate that Stratasys Ltd. will post -0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Loop Capital cut their price objective on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Craig Hallum raised their price target on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC boosted their price objective on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald cut their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Finally, StockNews.com raised shares of Stratasys from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Stratasys has an average rating of “Moderate Buy” and a consensus price target of $11.40.

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.