Stratasys (NASDAQ:SSYS) Sees Strong Trading Volume – Here’s Why

Stratasys Ltd. (NASDAQ:SSYS) shares saw an uptick in trading volume on Friday . 428,151 shares were traded during trading, an increase of 11% from the previous session’s volume of 387,029 shares.The stock last traded at $9.81 and had previously closed at $9.21.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC lifted their target price on Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Craig Hallum boosted their price objective on Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Stratasys from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Stratasys has a consensus rating of “Moderate Buy” and an average target price of $11.40.

Stratasys Trading Up 6.9 %

The business has a fifty day moving average price of $9.41 and a two-hundred day moving average price of $8.35. The company has a market cap of $703.09 million, a price-to-earnings ratio of -7.46 and a beta of 1.31.

Stratasys (NASDAQ:SSYS) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $140.00 million for the quarter, compared to analyst estimates of $139.49 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, analysts anticipate that Stratasys Ltd. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SSYS. Clearline Capital LP bought a new stake in shares of Stratasys in the 2nd quarter valued at approximately $9,301,000. Pinnacle Associates Ltd. grew its position in Stratasys by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after acquiring an additional 3,791 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Stratasys by 0.7% during the 3rd quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock worth $5,378,000 after purchasing an additional 4,589 shares during the last quarter. RPG Investment Advisory LLC raised its holdings in shares of Stratasys by 29.6% during the 3rd quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock valued at $5,485,000 after purchasing an additional 150,891 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Stratasys by 510.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock worth $563,000 after purchasing an additional 56,699 shares in the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

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.