Stratasys (NASDAQ:SSYS) Stock Price Up 10.7% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on SSYS. Needham & Company LLC reduced their price target on shares of Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Loop Capital reduced their target price 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 lowered their price target on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 1st. StockNews.com assumed coverage on Stratasys in a research note on Monday, September 2nd. They set a “hold” rating for the company. Finally, Lake Street Capital lowered their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.80.

Stratasys Stock Performance

The firm has a market capitalization of $548.19 million, a PE ratio of -4.34 and a beta of 1.19. The firm’s 50 day moving average price is $7.38 and its 200-day moving average price is $8.37.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $146.38 million. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. Stratasys’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share. On average, equities research analysts expect that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

Institutional Trading of Stratasys

Institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC purchased a new position in Stratasys in the 1st quarter valued at about $61,000. Larson Financial Group LLC boosted its stake in shares of Stratasys by 2,711.2% in the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock worth $111,000 after acquiring an additional 9,218 shares during the last quarter. Values First Advisors Inc. increased its position in shares of Stratasys by 51.3% during the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock worth $278,000 after purchasing an additional 11,254 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Stratasys by 4.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock valued at $565,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in Stratasys in the 1st quarter valued at $598,000. 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.