Stratasys Ltd. (NASDAQ:SSYS) Short Interest Down 17.1% in October

Stratasys Ltd. (NASDAQ:SSYS) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,550,000 shares, a decline of 17.1% from the October 15th total of 1,870,000 shares. Based on an average daily volume of 540,200 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.7% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC raised their price objective on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum upped their target price on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald reduced their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. StockNews.com assumed coverage on Stratasys in a research report on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Loop Capital decreased their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Stratasys currently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Hedge Funds Weigh In On Stratasys

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Stratasys by 42.2% in the 3rd quarter. Geode Capital Management LLC now owns 67,398 shares of the technology company’s stock valued at $560,000 after purchasing an additional 20,012 shares during the period. Barclays PLC grew its position in shares of Stratasys by 1.9% during the 3rd quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock worth $669,000 after buying an additional 1,525 shares during the period. Jane Street Group LLC increased its stake in shares of Stratasys by 17.4% in the 3rd quarter. Jane Street Group LLC now owns 103,218 shares of the technology company’s stock valued at $858,000 after acquiring an additional 15,318 shares during the last quarter. State Street Corp raised its position 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 acquiring an additional 1,500 shares during the period. Finally, Stifel Financial Corp boosted its stake in Stratasys by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock worth $193,000 after acquiring an additional 4,600 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.

Stratasys Trading Down 3.6 %

SSYS stock traded down $0.35 during trading on Friday, hitting $9.26. The company had a trading volume of 757,236 shares, compared to its average volume of 506,009. The company has a fifty day moving average price of $7.62 and a two-hundred day moving average price of $8.20. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93. The company has a market cap of $660.98 million, a P/E ratio of -7.02 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last announced its 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. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.71%. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. During the same quarter last year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. On average, analysts expect that Stratasys will post -0.44 earnings per share for the current year.

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.