Stratasys (NASDAQ:SSYS) Upgraded to “Buy” at StockNews.com

Stratasys (NASDAQ:SSYS) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other equities analysts have also commented on the stock. Loop Capital cut their price objective on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Lake Street Capital cut their price objective on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Craig Hallum raised their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald cut their price objective on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, Needham & Company LLC lifted their target price on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Price Performance

Shares of SSYS traded up $0.02 during trading hours on Wednesday, hitting $9.55. The company’s stock had a trading volume of 522,479 shares, compared to its average volume of 513,617. The company has a market cap of $681.68 million, a price-to-earnings ratio of -7.23 and a beta of 1.21. The business has a 50 day simple moving average of $8.01 and a two-hundred day simple moving average of $8.18. Stratasys has a 52-week low of $6.05 and a 52-week high of $14.93.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.49 million. During the same period last year, the business earned ($0.05) earnings per share. Stratasys’s revenue was down 13.6% compared to the same quarter last year. Research analysts predict that Stratasys will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Stratasys by 4.6% in the third quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock worth $467,000 after buying an additional 2,483 shares during the period. Barclays PLC increased its position in Stratasys by 1.9% during the 3rd quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock valued at $669,000 after purchasing an additional 1,525 shares during the period. Geode Capital Management LLC increased its position in Stratasys by 42.2% during 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. Jane Street Group LLC increased its position in Stratasys by 17.4% during the 3rd quarter. Jane Street Group LLC now owns 103,218 shares of the technology company’s stock valued at $858,000 after purchasing an additional 15,318 shares during the period. Finally, State Street Corp increased its position in Stratasys by 1.4% during the 3rd quarter. State Street Corp now owns 105,578 shares of the technology company’s stock valued at $877,000 after purchasing an additional 1,500 shares during the period. 75.77% of the stock is owned by hedge funds and other institutional investors.

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.