StockNews.com Begins Coverage on Stratasys (NASDAQ:SSYS)

StockNews.com initiated coverage on shares of Stratasys (NASDAQ:SSYS) in a research report released on Thursday. The firm issued a buy rating on the technology company’s stock.

Several other equities research analysts also recently commented on the company. Needham & Company LLC cut their price objective on Stratasys from $16.00 to $12.00 and set a buy rating for the company in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an overweight rating and issued a $23.00 price target on shares of Stratasys in a research note on Thursday, May 30th. Finally, Craig Hallum lowered their price objective on shares of Stratasys from $16.00 to $14.00 and set a buy rating on the stock in a research note on Monday, July 1st.

Stratasys Trading Down 5.0 %

Stratasys stock opened at $7.87 on Thursday. The company has a fifty day simple moving average of $8.72 and a 200 day simple moving average of $10.52. Stratasys has a 1-year low of $7.76 and a 1-year high of $17.46. The company has a market cap of $548.22 million, a P/E ratio of -4.30 and a beta of 1.21.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). Stratasys had a negative return on equity of 2.68% and a negative net margin of 20.38%. The company had revenue of $144.05 million during the quarter, compared to analysts’ expectations of $147.53 million. On average, equities research analysts forecast that Stratasys will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Stratasys

Several hedge funds have recently added to or reduced their stakes in SSYS. RIA Advisory Group LLC bought a new position in shares of Stratasys in the fourth quarter valued at about $33,000. Crewe Advisors LLC acquired a new stake in Stratasys during the first quarter worth approximately $61,000. Larson Financial Group LLC lifted its position in Stratasys by 2,711.2% during the first quarter. Larson Financial Group LLC now owns 9,558 shares of the technology company’s stock worth $111,000 after acquiring an additional 9,218 shares during the last quarter. Formidable Asset Management LLC grew its position in shares of Stratasys by 21.1% in the fourth quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock valued at $303,000 after purchasing an additional 3,705 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Stratasys by 49.0% during the fourth quarter. New York State Common Retirement Fund now owns 32,690 shares of the technology company’s stock worth $467,000 after purchasing an additional 10,747 shares during the period. 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.