Stratasys (NASDAQ:SSYS) Rating Lowered to "Hold" at StockNews.com

Stratasys (NASDAQ:SSYS - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Thursday.

SSYS has been the subject of a number of other research reports. Loop Capital cut their price target on shares of Stratasys from $9.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, September 5th. Craig Hallum lifted their target price on shares of Stratasys from $12.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Cantor Fitzgerald dropped their target price on shares of Stratasys from $23.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, August 30th. Lake Street Capital dropped their target price on shares of Stratasys from $15.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 30th. Finally, Needham & Company LLC lifted their target price on shares of Stratasys from $10.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Stratasys currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.40.

Stratasys Stock Performance

Shares of NASDAQ SSYS traded down $0.62 during midday trading on Thursday, reaching $9.28. 464,655 shares of the stock were exchanged, compared to its average volume of 513,746. The company has a 50 day simple moving average of $8.24 and a 200 day simple moving average of $8.18. The stock has a market capitalization of $662.41 million, a P/E ratio of -7.03 and a beta of 1.31. Stratasys has a twelve month low of $6.05 and a twelve month high of $14.93.

Stratasys (NASDAQ:SSYS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.49 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The business's revenue was down 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) EPS. On average, research analysts expect that Stratasys will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Stratasys

Several institutional investors have recently modified their holdings of the business. Rubric Capital Management LP grew its stake in shares of Stratasys by 3.7% in the third quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company's stock worth $51,447,000 after acquiring an additional 222,297 shares in the last quarter. Clearline Capital LP grew its stake in shares of Stratasys by 23.3% in the third quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company's stock worth $11,362,000 after acquiring an additional 258,603 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of Stratasys during the 3rd quarter worth $10,916,000. Pinnacle Associates Ltd. lifted its position in shares of Stratasys by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company's stock worth $8,731,000 after purchasing an additional 3,791 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Stratasys by 17.2% during the 2nd quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company's stock worth $6,859,000 after purchasing an additional 120,000 shares during the last quarter. Institutional investors and hedge funds own 75.77% of the company's stock.

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.