Stratasys (NASDAQ:SSYS) Shares Gap Up – Here’s Why

Stratasys Ltd. (NASDAQ:SSYS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $8.39, but opened at $10.30. Stratasys shares last traded at $10.04, with a volume of 898,128 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Cantor Fitzgerald reduced their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Needham & Company LLC upped their price objective on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday. Loop Capital reduced their price objective on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Lake Street Capital reduced 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, StockNews.com assumed coverage on Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.40.

Stratasys Trading Down 4.9 %

The business has a 50-day moving average price of $7.49 and a 200 day moving average price of $8.20. The stock has a market cap of $685.96 million, a PE ratio of -6.00 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS 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 firm had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, equities analysts predict that Stratasys Ltd. will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSYS. Rubric Capital Management LP lifted its holdings in Stratasys by 3.7% during the 3rd quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock worth $51,447,000 after purchasing an additional 222,297 shares in the last quarter. Clearline Capital LP purchased a new stake in Stratasys during the 2nd quarter worth about $9,301,000. Pinnacle Associates Ltd. lifted its holdings in Stratasys by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after purchasing an additional 3,791 shares in the last quarter. State of Michigan Retirement System lifted its holdings in 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 purchasing an additional 120,000 shares in the last quarter. Finally, RPG Investment Advisory LLC lifted its holdings in Stratasys by 29.6% during the 3rd quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after purchasing an additional 150,891 shares in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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.