Stratasys (NASDAQ:SSYS) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Stratasys (NASDAQ:SSYS) in a report published on Thursday. The firm issued a buy rating on the technology company’s stock.

SSYS has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an overweight rating and issued a $23.00 price target on shares of Stratasys in a report on Thursday, May 30th. Needham & Company LLC decreased their target price on Stratasys from $16.00 to $12.00 and set a buy rating on the stock in a research report on Thursday, May 30th. Finally, Craig Hallum dropped their price target on shares of Stratasys from $16.00 to $14.00 and set a buy rating on the stock in a research note on Monday, July 1st.

Stratasys Trading Down 5.0 %

Stratasys stock opened at $7.87 on Thursday. The firm has a market cap of $548.22 million, a PE ratio of -4.30 and a beta of 1.21. Stratasys has a 12 month low of $7.76 and a 12 month high of $17.46. The stock’s 50 day simple moving average is $8.72 and its two-hundred day simple moving average is $10.50.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). Stratasys had a negative net margin of 20.38% and a negative return on equity of 2.68%. The company had revenue of $144.05 million for the quarter, compared to analyst estimates of $147.53 million. On average, equities research analysts forecast that Stratasys will post -0.28 EPS for the current year.

Institutional Trading of Stratasys

A number of institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP raised its stake in Stratasys by 366.7% in the 4th quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after purchasing an additional 3,339,367 shares during the last quarter. Norges Bank acquired a new stake in shares of Stratasys in the fourth quarter valued at about $6,706,000. Frontier Capital Management Co. LLC lifted its stake in shares of Stratasys by 9.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock worth $24,192,000 after buying an additional 140,841 shares in the last quarter. State of Michigan Retirement System boosted its position in Stratasys by 17.2% during the second 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 last quarter. Finally, ARK Investment Management LLC grew its stake in Stratasys by 22.2% during the 2nd quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after acquiring an additional 116,912 shares in the last quarter. 75.77% of the stock is 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.