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

Stratasys Ltd. (NASDAQ:SSYS - Get Free Report) shares saw strong trading volume on Thursday after Craig Hallum raised their price target on the stock from $12.00 to $15.00. Craig Hallum currently has a buy rating on the stock. 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.

Several other research analysts have also issued reports on SSYS. StockNews.com assumed coverage on shares of Stratasys in a research report on Monday, September 2nd. They issued a "hold" rating for the company. Loop Capital dropped their price target on shares of Stratasys from $9.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. Lake Street Capital dropped their price target on shares of Stratasys from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, August 30th. Needham & Company LLC increased their price target on shares of Stratasys from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Cantor Fitzgerald dropped their price target on shares of Stratasys from $23.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.40.

Institutional Trading of Stratasys

Several large investors have recently added to or reduced their stakes in SSYS. Clearline Capital LP bought a new stake in Stratasys during the second quarter worth about $9,301,000. Rubric Capital Management LP grew its stake in shares of Stratasys by 18.2% during the second quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company's stock valued at $50,077,000 after purchasing an additional 918,703 shares during the last quarter. RPG Investment Advisory LLC grew its stake in shares of Stratasys by 29.6% during the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company's stock valued at $5,485,000 after purchasing an additional 150,891 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Stratasys by 17.2% during the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company's stock valued at $6,859,000 after purchasing an additional 120,000 shares during the last quarter. Finally, ARK Investment Management LLC grew its stake in shares of Stratasys by 22.2% during the second quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company's stock valued at $5,392,000 after purchasing an additional 116,912 shares during the last quarter. 75.77% of the stock is owned by institutional investors.

Stratasys Price Performance

The company's 50 day moving average price is $7.49 and its 200 day moving average price is $8.20. The firm has a market capitalization of $685.96 million, a P/E ratio of -6.00 and a beta of 1.21.

Stratasys (NASDAQ:SSYS - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The business had revenue of $138.00 million for the quarter, compared to analysts' expectations of $146.38 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. Stratasys's revenue was down 13.6% compared to the same quarter last year. On average, research analysts anticipate 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.