Gabelli Funds LLC Buys 16,000 Shares of Stratasys Ltd. (NASDAQ:SSYS)

Gabelli Funds LLC lifted its stake in Stratasys Ltd. (NASDAQ:SSYS) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 193,037 shares of the technology company’s stock after buying an additional 16,000 shares during the period. Gabelli Funds LLC owned about 0.28% of Stratasys worth $1,620,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rubric Capital Management LP lifted its position 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 worth $50,077,000 after acquiring an additional 918,703 shares during the period. RPG Investment Advisory LLC boosted its stake in Stratasys by 6.1% during the second quarter. RPG Investment Advisory LLC now owns 509,105 shares of the technology company’s stock worth $4,271,000 after buying an additional 29,177 shares in the last quarter. Trium Capital LLP increased its holdings in Stratasys by 5.6% in the 2nd quarter. Trium Capital LLP now owns 150,948 shares of the technology company’s stock valued at $1,266,000 after buying an additional 8,052 shares during the period. ARK Investment Management LLC raised its stake in shares of Stratasys by 22.2% in the 2nd quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after buying an additional 116,912 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Stratasys by 17.2% during the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock worth $6,859,000 after acquiring an additional 120,000 shares during the period. 75.77% of the stock is owned by institutional investors and hedge funds.

Stratasys Price Performance

SSYS stock opened at $7.63 on Thursday. The business has a fifty day moving average price of $7.62 and a 200 day moving average price of $9.01. Stratasys Ltd. has a fifty-two week low of $6.05 and a fifty-two week high of $14.93. The stock has a market capitalization of $531.16 million, a price-to-earnings ratio of -4.17 and a beta of 1.18.

Stratasys (NASDAQ:SSYS) last announced its 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 during the quarter, compared to analyst estimates of $146.38 million. During the same period last year, the company posted ($0.08) earnings per share. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year. On average, equities analysts expect that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SSYS shares. Cantor Fitzgerald lowered their target price on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Loop Capital dropped their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Craig Hallum decreased their price target on Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Lake Street Capital dropped their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, Needham & Company LLC reduced their target price on shares of Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.80.

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.