Stratasys (NASDAQ:SSYS) Trading 10.7% Higher – Here’s Why

Stratasys Ltd. (NASDAQ:SSYS)’s stock price rose 10.7% during mid-day trading on Monday . The company traded as high as $7.78 and last traded at $7.76. Approximately 156,051 shares were traded during trading, a decline of 67% from the average daily volume of 475,979 shares. The stock had previously closed at $7.01.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Loop Capital lowered their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Needham & Company LLC lowered their price objective on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Lake Street Capital cut their price objective on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Cantor Fitzgerald reduced their price target on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, StockNews.com started coverage on shares of Stratasys in a research report on Monday, September 2nd. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Stock Performance

The stock’s fifty day moving average is $7.37 and its 200 day moving average is $8.33. The stock has a market cap of $521.72 million, a P/E ratio of -4.09 and a beta of 1.19.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) 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 company had revenue of $138.00 million during the quarter, compared to analyst estimates of $146.38 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. Stratasys’s quarterly revenue was down 13.6% compared to the same quarter last year. Equities research analysts predict that Stratasys Ltd. will post -0.44 EPS for the current year.

Institutional Trading of Stratasys

A number of large investors have recently made changes to their positions in the stock. Clearline Capital LP purchased a new position in shares of Stratasys during the second quarter worth approximately $9,301,000. Rubric Capital Management LP increased its stake in shares of Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after buying an additional 918,703 shares during the period. State of Michigan Retirement System raised its holdings in shares of Stratasys by 17.2% in the second 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. ARK Investment Management LLC grew its holdings in Stratasys by 22.2% during the 2nd quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock worth $5,392,000 after acquiring an additional 116,912 shares in the last quarter. Finally, RPG Investment Advisory LLC increased its position in Stratasys by 13.6% during the 1st quarter. RPG Investment Advisory LLC now owns 479,928 shares of the technology company’s stock valued at $5,577,000 after purchasing an additional 57,421 shares during the period. 75.77% of the stock is owned by hedge funds and other institutional investors.

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.