Stratasys Ltd. (NASDAQ:SSYS) Sees Significant Drop in Short Interest

Stratasys Ltd. (NASDAQ:SSYS) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 649,200 shares, a decline of 13.0% from the December 31st total of 746,000 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 613,600 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SSYS shares. StockNews.com raised Stratasys from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price target on shares of Stratasys in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of Stratasys in a research note on Monday. Finally, Craig Hallum upped their price target on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.40.

Hedge Funds Weigh In On Stratasys

A number of large investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Stratasys by 1.4% in the 3rd quarter. State Street Corp now owns 105,578 shares of the technology company’s stock valued at $877,000 after buying an additional 1,500 shares during the last quarter. Barclays PLC boosted its holdings in shares of Stratasys by 1.9% in the 3rd quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock valued at $669,000 after buying an additional 1,525 shares during the last quarter. Tidal Investments LLC lifted its holdings in Stratasys by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock valued at $467,000 after purchasing an additional 2,483 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Stratasys by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after purchasing an additional 3,791 shares during the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Stratasys by 0.7% during the 3rd quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock valued at $5,378,000 after purchasing an additional 4,589 shares during the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

Stratasys Stock Performance

NASDAQ SSYS traded up $2.00 during trading hours on Monday, reaching $11.31. 4,653,647 shares of the company’s stock were exchanged, compared to its average volume of 640,224. The company’s 50-day moving average is $9.44 and its two-hundred day moving average is $8.36. Stratasys has a one year low of $6.05 and a one year high of $13.98. The company has a market capitalization of $807.31 million, a price-to-earnings ratio of -8.57 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned ($0.05) EPS. Stratasys’s revenue for the quarter was down 13.6% compared to the same quarter last year. Research analysts predict that Stratasys will post -0.4 earnings per share for the current fiscal year.

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.