Stratasys (NASDAQ:SSYS) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Stratasys (NASDAQ:SSYS) in a research note published on Saturday. The firm issued a buy rating on the technology company’s stock.

Separately, Cantor Fitzgerald assumed coverage on Stratasys in a research report on Tuesday, February 13th. They issued an overweight rating and a $24.00 price target on the stock.

Stratasys Trading Up 2.7 %

Shares of NASDAQ:SSYS opened at $10.02 on Friday. The business’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $12.01. Stratasys has a fifty-two week low of $9.43 and a fifty-two week high of $21.72.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Thursday, March 7th. The technology company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Stratasys had a negative return on equity of 2.28% and a negative net margin of 19.61%. The firm had revenue of $156.34 million for the quarter, compared to analysts’ expectations of $153.96 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict that Stratasys will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Stratasys

A number of institutional investors and hedge funds have recently bought and sold shares of SSYS. CWM LLC boosted its stake in Stratasys by 2,633.3% in the third quarter. CWM LLC now owns 3,280 shares of the technology company’s stock worth $45,000 after purchasing an additional 3,160 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Stratasys by 42.3% in the third quarter. Pinnacle Associates Ltd. now owns 1,063,482 shares of the technology company’s stock worth $14,474,000 after purchasing an additional 315,868 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Stratasys by 165.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 39,074 shares of the technology company’s stock worth $532,000 after purchasing an additional 24,371 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Stratasys by 24.9% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 928,580 shares of the technology company’s stock worth $12,638,000 after purchasing an additional 185,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Stratasys by 6.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,773 shares of the technology company’s stock worth $2,106,000 after purchasing an additional 8,931 shares in the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

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.