Stratasys (NASDAQ:SSYS) Rating Increased to Buy at StockNews.com

Stratasys (NASDAQ:SSYS) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other research firms also recently issued reports on SSYS. Loop Capital cut their target price on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Cantor Fitzgerald dropped their price target on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Lake Street Capital reduced their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Craig Hallum upped their target price on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC raised 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, November 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Stratasys Price Performance

Stratasys stock traded up $0.12 during midday trading on Wednesday, reaching $9.38. The company’s stock had a trading volume of 321,792 shares, compared to its average volume of 524,181. Stratasys has a 52-week low of $6.05 and a 52-week high of $14.93. The stock has a market capitalization of $669.53 million, a P/E ratio of -7.11 and a beta of 1.31. The stock’s 50-day simple moving average is $8.83 and its 200-day simple moving average is $8.25.

Stratasys (NASDAQ:SSYS) last released its earnings results on Wednesday, November 13th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.49 million. During the same period last year, the business earned ($0.05) EPS. Stratasys’s revenue for the quarter was down 13.6% on a year-over-year basis. As a group, equities research analysts expect that Stratasys will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several institutional investors have recently made changes to their positions in SSYS. Quantbot Technologies LP acquired a new stake in shares of Stratasys in the third quarter worth approximately $90,000. Stifel Financial Corp increased its stake in shares of Stratasys by 24.7% in the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock worth $193,000 after acquiring an additional 4,600 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Stratasys during the 3rd quarter worth $210,000. Verition Fund Management LLC acquired a new position in shares of Stratasys during the 3rd quarter valued at about $322,000. Finally, Tidal Investments LLC boosted its position in shares of Stratasys by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock valued at $467,000 after acquiring an additional 2,483 shares during 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.