Stratasys (NASDAQ:SSYS) Trading Down 5.7% – Should You Sell?

Stratasys Ltd. (NASDAQ:SSYS)’s stock price dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $9.61 and last traded at $9.76. Approximately 141,383 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 563,767 shares. The stock had previously closed at $10.35.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SSYS shares. Craig Hallum lifted their target price on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald increased their price target on Stratasys from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com downgraded Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC increased their price target on Stratasys from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.20.

Stratasys Stock Down 5.8 %

The firm has a 50-day moving average price of $10.23 and a two-hundred day moving average price of $8.90. The firm has a market cap of $695.58 million, a PE ratio of -7.39 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company had revenue of $150.40 million during the quarter, compared to analysts’ expectations of $151.01 million. During the same quarter last year, the company posted $0.02 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. Research analysts forecast that Stratasys Ltd. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Stratasys

Several hedge funds have recently made changes to their positions in SSYS. Rubric Capital Management LP raised its holdings in Stratasys by 3.7% during the third quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock worth $51,447,000 after purchasing an additional 222,297 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Stratasys by 0.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,399,898 shares of the technology company’s stock worth $12,445,000 after buying an additional 9,522 shares in the last quarter. Clearline Capital LP raised its stake in shares of Stratasys by 23.3% during the 3rd quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock worth $11,362,000 after buying an additional 258,603 shares in the last quarter. Invenomic Capital Management LP purchased a new position in shares of Stratasys during the 3rd quarter worth approximately $10,916,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Stratasys by 53.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company’s stock worth $10,255,000 after buying an additional 400,000 shares in the last quarter. Institutional investors and hedge funds 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.