RPG Investment Advisory LLC Increases Position in Stratasys Ltd. (NASDAQ:SSYS)

RPG Investment Advisory LLC raised its holdings in Stratasys Ltd. (NASDAQ:SSYS - Free Report) by 29.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 659,996 shares of the technology company's stock after buying an additional 150,891 shares during the quarter. RPG Investment Advisory LLC owned 0.92% of Stratasys worth $5,485,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Rubric Capital Management LP grew its holdings in Stratasys by 18.2% in the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company's stock worth $50,077,000 after purchasing an additional 918,703 shares during the period. Clearline Capital LP acquired a new stake in shares of Stratasys in the 2nd quarter valued at about $9,301,000. Pinnacle Associates Ltd. grew its stake in shares of Stratasys by 0.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company's stock valued at $8,731,000 after buying an additional 3,791 shares during the period. State of Michigan Retirement System increased its position in Stratasys by 17.2% in the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company's stock valued at $6,859,000 after buying an additional 120,000 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in Stratasys by 0.7% during the 3rd quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company's stock worth $5,378,000 after buying an additional 4,589 shares during the period. Institutional investors and hedge funds own 75.77% of the company's stock.

Stratasys Stock Performance

NASDAQ SSYS traded up $1.49 during trading hours on Wednesday, hitting $9.88. The company had a trading volume of 2,530,129 shares, compared to its average volume of 498,164. The firm has a 50 day simple moving average of $7.42 and a 200 day simple moving average of $8.18. Stratasys Ltd. has a 52 week low of $6.05 and a 52 week high of $14.93. The firm has a market capitalization of $705.23 million, a price-to-earnings ratio of -6.06 and a beta of 1.21.

Stratasys (NASDAQ:SSYS - Get Free Report) last posted its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. Stratasys's revenue was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, research analysts forecast that Stratasys Ltd. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Loop Capital decreased their price target on shares of Stratasys from $9.00 to $7.00 and set a "hold" rating for the company in a research note on Thursday, September 5th. Needham & Company LLC cut their price objective on shares of Stratasys from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Cantor Fitzgerald decreased their price objective on shares of Stratasys from $23.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, August 30th. Lake Street Capital reduced their target price on Stratasys from $15.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 30th. Finally, StockNews.com began coverage on Stratasys in a research note on Monday, September 2nd. They set a "hold" rating on the stock. Two 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $10.80.

Stratasys 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.