Stratasys (NASDAQ:SSYS) Shares Gap Down After Analyst Downgrade

Stratasys, Ltd. (NASDAQ:SSYS) gapped down prior to trading on Wednesday after Needham & Company LLC lowered their price target on the stock from $15.00 to $13.00. The stock had previously closed at $11.37, but opened at $9.49. Needham & Company LLC currently has a buy rating on the stock. Stratasys shares last traded at $10.09, with a volume of 1,285,175 shares trading hands.

Separately, Wall Street Zen raised shares of Stratasys from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Stratasys presently has a consensus rating of “Moderate Buy” and an average target price of $12.20.

Hedge Funds Weigh In On Stratasys

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Stratasys during the 2nd quarter worth $35,000. Formula Growth Ltd. boosted its holdings in Stratasys by 3.2% during the 2nd quarter. Formula Growth Ltd. now owns 650,000 shares of the technology company’s stock worth $7,456,000 after acquiring an additional 20,000 shares during the last quarter. Bosun Asset Management LLC boosted its holdings in Stratasys by 40.6% during the 2nd quarter. Bosun Asset Management LLC now owns 81,732 shares of the technology company’s stock worth $937,000 after acquiring an additional 23,599 shares during the last quarter. Marshall Wace LLP purchased a new position in Stratasys during the 2nd quarter worth $574,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Stratasys during the 2nd quarter worth $1,708,000. 75.77% of the stock is owned by hedge funds and other institutional investors.

Stratasys Trading Down 7.9%

The stock has a market capitalization of $782.96 million, a PE ratio of -6.88 and a beta of 1.57. The stock’s fifty day simple moving average is $10.94 and its 200-day simple moving average is $10.51.

Stratasys (NASDAQ:SSYS) last posted its quarterly earnings data on Wednesday, August 13th. The technology company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $138.09 million for the quarter, compared to the consensus estimate of $137.15 million. Stratasys had a negative net margin of 17.42% and a negative return on equity of 1.09%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS. As a group, analysts anticipate that Stratasys, Ltd. will post -0.4 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.