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

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SSYS. State Street Corp boosted its stake in Stratasys by 1.4% in the third 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 in the last quarter. Barclays PLC boosted its stake in Stratasys by 1.9% in the third 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 in the last quarter. Tidal Investments LLC boosted its stake in Stratasys by 4.6% in the third quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock valued at $467,000 after buying an additional 2,483 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Stratasys by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after buying an additional 3,791 shares in the last quarter. Finally, ARK Investment Management LLC boosted its stake in Stratasys by 0.7% in the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock valued at $5,378,000 after buying an additional 4,589 shares in the last quarter. Institutional investors own 75.77% of the company’s stock.

Stratasys Stock Performance

Shares of NASDAQ SSYS traded up $2.00 during mid-day trading on Monday, reaching $11.31. The company had a trading volume of 4,653,647 shares, compared to its average volume of 640,224. Stratasys has a one year low of $6.05 and a one year high of $13.98. The firm has a market cap of $807.31 million, a price-to-earnings ratio of -8.57 and a beta of 1.31. The business’s 50-day simple moving average is $9.44 and its 200 day simple moving average is $8.36.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 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 company had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.49 million. During the same quarter last year, the business earned ($0.05) earnings per share. Stratasys’s revenue was down 13.6% on a year-over-year basis. On average, sell-side analysts anticipate that Stratasys will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded Stratasys from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. Craig Hallum increased their price objective on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price objective on shares of Stratasys in a research report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Stratasys in a research report on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.40.

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.