Stratasys (NASDAQ:SSYS) Sees Large Volume Increase on Analyst Upgrade

Stratasys Ltd. (NASDAQ:SSYS) shares saw unusually-strong trading volume on Thursday after Craig Hallum raised their price target on the stock from $12.00 to $15.00. Craig Hallum currently has a buy rating on the stock. Approximately 348,631 shares changed hands during mid-day trading, a decline of 30% from the previous session’s volume of 500,111 shares.The stock last traded at $9.70 and had previously closed at $10.11.

Other equities research analysts also recently issued research reports about the stock. Loop Capital reduced their target price on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Needham & Company LLC boosted their target price on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday. Lake Street Capital reduced their target price on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. StockNews.com began coverage on shares of Stratasys in a research note on Monday, September 2nd. They issued a “hold” rating on the stock. Finally, Cantor Fitzgerald reduced their price target on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.40.

Institutional Trading of Stratasys

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSYS. Crewe Advisors LLC bought a new stake in Stratasys during the 1st quarter worth about $61,000. Gamco Investors INC. ET AL raised its holdings in Stratasys by 4.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock worth $565,000 after purchasing an additional 1,850 shares during the last quarter. Gabelli Funds LLC raised its holdings in Stratasys by 6.7% during the 1st quarter. Gabelli Funds LLC now owns 177,037 shares of the technology company’s stock worth $2,057,000 after purchasing an additional 11,090 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Stratasys by 17.4% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 122,204 shares of the technology company’s stock worth $1,420,000 after purchasing an additional 18,100 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in Stratasys during the 1st quarter worth about $598,000. 75.77% of the stock is owned by institutional investors.

Stratasys Trading Down 3.6 %

The stock has a market capitalization of $660.98 million, a P/E ratio of -7.17 and a beta of 1.21. The company has a fifty day simple moving average of $7.56 and a two-hundred day simple moving average of $8.21.

Stratasys (NASDAQ:SSYS) last announced 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. The company had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative return on equity of 3.71% and a negative net margin of 16.13%. Stratasys’s revenue was down 13.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. As a group, analysts forecast that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal 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.