Short Interest in Stratasys Ltd. (NASDAQ:SSYS) Drops By 33.8%

Stratasys Ltd. (NASDAQ:SSYS) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 927,200 shares, a drop of 33.8% from the November 15th total of 1,400,000 shares. Based on an average daily volume of 596,800 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.6% of the shares of the stock are sold short.

Institutional Investors Weigh In On Stratasys

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Stratasys during the 3rd quarter worth about $90,000. Stifel Financial Corp lifted its position in shares of Stratasys by 24.7% during the third quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock worth $193,000 after purchasing an additional 4,600 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Stratasys in the third quarter valued at approximately $210,000. Values First Advisors Inc. grew its holdings in shares of Stratasys by 51.3% in the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock valued at $278,000 after purchasing an additional 11,254 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Stratasys during the 3rd quarter worth approximately $322,000. 75.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SSYS shares. StockNews.com lowered Stratasys from a “buy” rating to a “hold” rating in a research report on Thursday, December 5th. Loop Capital dropped their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Lake Street Capital reduced 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. Craig Hallum upped their price objective on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC lifted their target price on shares of Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Stratasys presently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Stock Down 6.6 %

Shares of NASDAQ:SSYS traded down $0.71 during midday trading on Friday, reaching $10.08. 871,964 shares of the company’s stock were exchanged, compared to its average volume of 647,334. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $14.93. The firm’s 50 day simple moving average is $8.52 and its two-hundred day simple moving average is $8.22.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $140.00 million for 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%. The business’s revenue was down 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Sell-side analysts expect that Stratasys will post -0.4 EPS for the current year.

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.