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

Stratasys Ltd. (NASDAQ:SSYS) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,770,000 shares, a growth of 18.8% from the May 31st total of 1,490,000 shares. Based on an average daily volume of 535,900 shares, the days-to-cover ratio is currently 3.3 days. Approximately 3.1% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms have recently commented on SSYS. Needham & Company LLC reduced their target price on shares of Stratasys from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of Stratasys in a research report on Thursday, May 30th. Finally, StockNews.com assumed coverage on Stratasys in a report on Sunday. They issued a “buy” rating on the stock.

Stratasys Trading Down 1.1 %

NASDAQ:SSYS opened at $8.30 on Monday. Stratasys has a 1 year low of $8.02 and a 1 year high of $21.72. The stock has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $11.36.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $144.05 million during the quarter, compared to the consensus estimate of $147.53 million. Stratasys had a negative net margin of 20.38% and a negative return on equity of 2.68%. Equities analysts anticipate that Stratasys will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Stratasys

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RIA Advisory Group LLC acquired a new stake in shares of Stratasys in the 4th quarter worth approximately $33,000. Crewe Advisors LLC purchased a new stake in Stratasys during the first quarter worth $61,000. Larson Financial Group LLC grew its holdings in Stratasys by 2,711.2% in the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock valued at $111,000 after purchasing an additional 9,218 shares during the last quarter. Values First Advisors Inc. increased its position in shares of Stratasys by 4.4% in the fourth quarter. Values First Advisors Inc. now owns 19,652 shares of the technology company’s stock valued at $281,000 after buying an additional 828 shares in the last quarter. Finally, Formidable Asset Management LLC raised its stake in shares of Stratasys by 21.1% during the 4th quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock worth $303,000 after buying an additional 3,705 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.

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.