Stratasys Ltd. (NASDAQ:SSYS) Short Interest Update

Stratasys Ltd. (NASDAQ:SSYS) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,880,000 shares, a growth of 28.8% from the September 15th total of 1,460,000 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 524,500 shares, the days-to-cover ratio is presently 3.6 days.

Analysts Set New Price Targets

SSYS has been the subject of several research analyst reports. Craig Hallum cut their price target on Stratasys from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, July 1st. Loop Capital decreased their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Cantor Fitzgerald decreased their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Needham & Company LLC decreased their target price on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Lake Street Capital cut their price target on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Stratasys has a consensus rating of “Moderate Buy” and an average price target of $10.80.

Stratasys Stock Performance

Shares of NASDAQ:SSYS traded up $0.06 on Tuesday, hitting $7.30. 241,464 shares of the company’s stock were exchanged, compared to its average volume of 481,850. The company has a market capitalization of $521.07 million, a PE ratio of -4.44 and a beta of 1.19. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.93. The firm’s 50-day moving average is $7.37 and its 200 day moving average is $8.61.

Stratasys (NASDAQ:SSYS) last announced its earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The firm had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Stratasys’s quarterly revenue was down 13.6% on a year-over-year basis. On average, analysts anticipate that Stratasys will post -0.44 EPS for the current fiscal year.

Institutional Trading of Stratasys

Hedge funds and other institutional investors have recently modified their holdings of the business. Rubric Capital Management LP grew its stake 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 in the last quarter. Douglas Lane & Associates LLC boosted its position in shares of Stratasys by 0.3% during the first quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock worth $15,649,000 after buying an additional 3,712 shares during the period. Clearline Capital LP bought a new stake in Stratasys during the second quarter worth approximately $9,301,000. State of Michigan Retirement System increased its holdings in shares of Stratasys by 17.2% in 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 buying an additional 120,000 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings in shares of Stratasys by 22.2% in the second quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after buying an additional 116,912 shares in the last quarter. 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.