Stratasys (NASDAQ:SSYS) Upgraded to “Buy” at StockNews.com

Stratasys (NASDAQ:SSYS) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also recently weighed in on SSYS. Needham & Company LLC increased their price objective on shares of Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald decreased their price objective 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. Loop Capital cut their target price 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. Craig Hallum increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Lake Street Capital cut their target price 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Price Performance

Shares of SSYS traded up $0.02 during trading hours on Wednesday, hitting $9.55. 522,479 shares of the stock were exchanged, compared to its average volume of 513,617. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93. The business has a 50-day moving average of $8.01 and a 200-day moving average of $8.18. The firm has a market capitalization of $681.68 million, a P/E ratio of -7.23 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.49 million. During the same period in the prior year, the company posted ($0.05) earnings per share. Stratasys’s revenue for the quarter was down 13.6% compared to the same quarter last year. As a group, analysts forecast that Stratasys will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Stratasys

Institutional investors and hedge funds have recently made changes to their positions in the company. RPG Investment Advisory LLC raised its holdings in shares of 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 during the last quarter. Rubric Capital Management LP raised its holdings in shares of Stratasys by 18.2% in 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 purchasing an additional 918,703 shares during the last quarter. ARK Investment Management LLC increased its holdings in Stratasys by 22.2% during the second quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock worth $5,392,000 after buying an additional 116,912 shares during the last quarter. State of Michigan Retirement System increased its holdings in Stratasys by 17.2% during the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock worth $6,859,000 after buying an additional 120,000 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in Stratasys during the second quarter worth about $9,301,000. Hedge funds and other 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.