Stratasys (NASDAQ:SSYS) Sees Large Volume Increase - Here's What Happened

Shares of Stratasys Ltd. (NASDAQ:SSYS - Get Free Report) saw an uptick in trading volume on Friday . 428,151 shares were traded during trading, an increase of 11% from the previous session's volume of 387,029 shares.The stock last traded at $9.81 and had previously closed at $9.21.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SSYS. StockNews.com raised shares of Stratasys from a "hold" rating to a "buy" rating in a research note on Wednesday, December 25th. Craig Hallum lifted their price target on shares of Stratasys from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC lifted their price target on shares of Stratasys from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.40.

Stratasys Stock Up 6.9 %

The company has a market cap of $703.09 million, a P/E ratio of -7.46 and a beta of 1.31. The business's 50 day moving average is $9.41 and its 200 day moving average is $8.35.

Stratasys (NASDAQ:SSYS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The company 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%. Stratasys's revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, equities research analysts forecast that Stratasys Ltd. will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Stratasys

Several institutional investors and hedge funds have recently bought and sold shares of SSYS. Invenomic Capital Management LP purchased a new position in Stratasys in the third quarter worth $10,916,000. Clearline Capital LP purchased a new position in Stratasys in the second quarter worth $9,301,000. Rubric Capital Management LP grew its holdings in 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 purchasing an additional 222,297 shares during the last quarter. RPG Investment Advisory LLC grew its holdings in Stratasys by 29.6% in the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company's stock worth $5,485,000 after purchasing an additional 150,891 shares during the last quarter. Finally, RBF Capital LLC purchased a new stake in shares of Stratasys during the third quarter valued at $1,080,000. 75.77% of the stock is owned by hedge funds and other institutional investors.

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.