Stratasys (NASDAQ:SSYS) Trading 7.7% Higher – Should You Buy?

Stratasys Ltd. (NASDAQ:SSYS) shares rose 7.7% during mid-day trading on Wednesday . The stock traded as high as $10.13 and last traded at $10.12. Approximately 529,787 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 512,151 shares. The stock had previously closed at $9.40.

Analysts Set New Price Targets

SSYS has been the subject of a number of recent research reports. StockNews.com downgraded Stratasys from a “buy” rating to a “hold” rating in a research report on Thursday. Lake Street Capital dropped their target price on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Cantor Fitzgerald dropped their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Needham & Company LLC boosted their target price on Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Craig Hallum boosted their target price on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Price Performance

The business has a 50 day moving average of $8.24 and a 200 day moving average of $8.18. The firm has a market capitalization of $685.25 million, a price-to-earnings ratio of -7.03 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.49 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was down 13.6% on a year-over-year basis. As a group, equities analysts predict that Stratasys Ltd. will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. RPG Investment Advisory LLC boosted its position in shares of Stratasys by 29.6% during the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after buying an additional 150,891 shares during the period. Rubric Capital Management LP boosted its position in Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after purchasing an additional 918,703 shares during the last quarter. ARK Investment Management LLC boosted its position in Stratasys by 22.2% during the second quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after purchasing an additional 116,912 shares during 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 valued at $6,859,000 after purchasing an additional 120,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Stratasys by 510.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock valued at $563,000 after purchasing an additional 56,699 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

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.