Stratasys (NASDAQ:SSYS) Shares Gap Up to $7.05

Stratasys Ltd. (NASDAQ:SSYS) shares gapped up prior to trading on Monday . The stock had previously closed at $7.05, but opened at $7.43. Stratasys shares last traded at $7.57, with a volume of 190,503 shares.

Wall Street Analyst Weigh In

SSYS has been the topic of several research analyst reports. 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. Cantor Fitzgerald reduced their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Needham & Company LLC dropped their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Lake Street Capital reduced their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, StockNews.com initiated coverage on shares of Stratasys in a report on Monday, September 2nd. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Stratasys presently has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Stratasys Trading Up 6.2 %

The firm has a market capitalization of $521.75 million, a price-to-earnings ratio of -4.14 and a beta of 1.18. The business has a 50-day moving average price of $7.85 and a two-hundred day moving average price of $9.25.

Stratasys (NASDAQ:SSYS) last posted its earnings results on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Stratasys had a negative return on equity of 3.29% and a negative net margin of 18.98%. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. During the same period last year, the business posted ($0.08) earnings per share. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year. On average, equities research analysts predict that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

Institutional Trading of Stratasys

Several hedge funds have recently added to or reduced their stakes in the business. Rubric Capital Management LP increased its position in shares of Stratasys by 18.2% during the 2nd quarter. Rubric Capital Management LP now owns 5,968,703 shares of the technology company’s stock valued at $50,077,000 after purchasing an additional 918,703 shares during the period. Frontier Capital Management Co. LLC grew its stake in Stratasys by 9.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock valued at $24,192,000 after acquiring an additional 140,841 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in Stratasys by 0.3% during the first quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock valued at $15,649,000 after purchasing an additional 3,712 shares during the last quarter. Clearline Capital LP acquired a new stake in Stratasys during the second quarter valued at $9,301,000. Finally, Pinnacle Associates Ltd. grew its stake in Stratasys by 0.5% in the first quarter. Pinnacle Associates Ltd. now owns 1,055,630 shares of the technology company’s stock valued at $12,266,000 after purchasing an additional 4,991 shares in the last quarter. Institutional investors 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.