Stratasys (NASDAQ:SSYS) Reaches New 1-Year Low at $7.32

Stratasys Ltd. (NASDAQ:SSYS)’s share price hit a new 52-week low on Wednesday . The company traded as low as $7.32 and last traded at $7.34, with a volume of 182252 shares changing hands. The stock had previously closed at $7.56.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SSYS shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of Stratasys in a research report on Thursday, May 30th. StockNews.com began coverage on shares of Stratasys in a report on Friday. They issued a “buy” rating for the company. Craig Hallum reduced their price target on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Finally, Needham & Company LLC dropped their price objective on shares of Stratasys from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 30th.

Stratasys Stock Down 0.8 %

The company’s fifty day moving average price is $8.59 and its 200-day moving average price is $10.38.

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

Hedge Funds Weigh In On Stratasys

A number of large investors have recently bought and sold shares of SSYS. Rubric Capital Management LP grew its holdings in Stratasys by 366.7% in the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock worth $60,690,000 after purchasing an additional 3,339,367 shares during the last quarter. Norges Bank purchased a new position in Stratasys in the fourth quarter worth $6,706,000. Frontier Capital Management Co. LLC grew its holdings in Stratasys by 9.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock worth $24,192,000 after purchasing an additional 140,841 shares during the last quarter. State of Michigan Retirement System grew its holdings in Stratasys by 17.2% in the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock worth $6,859,000 after purchasing an additional 120,000 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in Stratasys by 22.2% in the second quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock worth $5,392,000 after purchasing an additional 116,912 shares during the last quarter. Institutional investors own 75.77% of the company’s stock.

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.