Stratasys (NASDAQ:SSYS) Trading 6.5% Higher - Here's Why

Shares of Stratasys Ltd. (NASDAQ:SSYS - Get Free Report) were up 6.5% on Tuesday . The stock traded as high as $7.59 and last traded at $7.59. Approximately 164,969 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 479,843 shares. The stock had previously closed at $7.13.

Analysts Set New Price Targets

Several analysts recently weighed in on SSYS shares. Loop Capital decreased their price objective on Stratasys from $9.00 to $7.00 and set a "hold" rating for the company in a report 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. Lake Street Capital dropped their target price on Stratasys from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Cantor Fitzgerald cut their price target on Stratasys from $23.00 to $12.00 and set an "overweight" rating on the stock 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 for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.80.

Stratasys Stock Performance

The company has a 50 day moving average of $7.32 and a two-hundred day moving average of $8.24. The stock has a market capitalization of $556.03 million, a PE ratio of -4.78 and a beta of 1.21.

Stratasys (NASDAQ:SSYS - Get Free Report) last released its earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The company had revenue of $138.00 million during the quarter, compared to analysts' expectations 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 for the quarter was down 13.6% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. As a group, research analysts predict that Stratasys Ltd. will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Stratasys by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,596 shares of the technology company's stock valued at $2,180,000 after acquiring an additional 10,561 shares during the last quarter. Larson Financial Group LLC grew its position in Stratasys by 2,711.2% during the 1st quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company's stock worth $111,000 after purchasing an additional 9,218 shares during the period. Essex Investment Management Co. LLC raised its stake in shares of Stratasys by 1.9% during the 1st quarter. Essex Investment Management Co. LLC now owns 135,324 shares of the technology company's stock valued at $1,572,000 after buying an additional 2,528 shares during the last quarter. RPG Investment Advisory LLC lifted its holdings in shares of Stratasys by 13.6% in the 1st quarter. RPG Investment Advisory LLC now owns 479,928 shares of the technology company's stock valued at $5,577,000 after buying an additional 57,421 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of Stratasys in the 1st quarter valued at about $61,000. 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.