Exchange Traded Concepts LLC Has $11.55 Million Holdings in Stratasys Ltd. (NASDAQ:SSYS)

Exchange Traded Concepts LLC reduced its position in Stratasys Ltd. (NASDAQ:SSYS) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 1,390,376 shares of the technology company’s stock after selling 6,710 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Stratasys were worth $11,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rubric Capital Management LP raised its holdings in shares of Stratasys by 18.2% in the 2nd quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after acquiring an additional 918,703 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Stratasys by 22.2% during the 2nd quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after purchasing an additional 116,912 shares in the last quarter. State of Michigan Retirement System lifted its position in Stratasys by 17.2% during the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after buying an additional 120,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Stratasys by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,596 shares of the technology company’s stock worth $2,180,000 after purchasing an additional 10,561 shares in the last quarter. Finally, Clearline Capital LP purchased a new stake in Stratasys during the 2nd quarter valued at about $9,301,000. 75.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SSYS. Craig Hallum reduced their price target on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, July 1st. StockNews.com began coverage on shares of Stratasys in a report on Monday, September 2nd. They issued a “hold” rating for the company. Loop Capital dropped their price objective on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Cantor Fitzgerald cut their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Needham & Company LLC decreased 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.80.

Stratasys Stock Performance

Shares of SSYS stock opened at $7.27 on Friday. The company has a 50 day moving average price of $7.38 and a 200 day moving average price of $8.66. Stratasys Ltd. has a fifty-two week low of $6.05 and a fifty-two week high of $14.93.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. During the same period last year, the firm earned ($0.08) earnings per share. Stratasys’s quarterly revenue was down 13.6% on a year-over-year basis. On average, equities analysts predict that Stratasys Ltd. 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.