Stratasys (NASDAQ:SSYS) Sees Strong Trading Volume Following Analyst Upgrade

Stratasys Ltd. (NASDAQ:SSYS) saw unusually-strong trading volume on Thursday after Needham & Company LLC raised their price target on the stock from $10.00 to $12.00. Needham & Company LLC currently has a buy rating on the stock. Approximately 348,631 shares traded hands during 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 analysts have also recently issued reports about the stock. StockNews.com initiated coverage on shares of Stratasys in a research note on Monday, September 2nd. They set a “hold” rating on the stock. Loop Capital dropped their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Lake Street Capital reduced their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Cantor Fitzgerald decreased their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SSYS. Crewe Advisors LLC purchased a new stake in shares of Stratasys in the first quarter worth $61,000. Gamco Investors INC. ET AL raised its holdings in shares of Stratasys by 4.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock valued at $565,000 after acquiring an additional 1,850 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Stratasys by 6.7% during the 1st quarter. Gabelli Funds LLC now owns 177,037 shares of the technology company’s stock valued at $2,057,000 after acquiring an additional 11,090 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Stratasys by 17.4% during the first 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 in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Stratasys in the first quarter worth approximately $598,000. 75.77% of the stock is owned by institutional investors.

Stratasys Price Performance

The firm has a market capitalization of $692.39 million, a PE ratio of -6.20 and a beta of 1.21. The business’s 50 day moving average is $7.49 and its two-hundred day moving average is $8.20.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $138.00 million during the quarter, compared to the consensus estimate of $146.38 million. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The firm’s revenue was down 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. Analysts expect that Stratasys Ltd. will post -0.44 EPS 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.