Stratasys (NASDAQ:SSYS) Shares Gap Down – Here’s Why

Stratasys Ltd. (NASDAQ:SSYS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $10.61, but opened at $9.89. Stratasys shares last traded at $10.32, with a volume of 304,396 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Craig Hallum boosted their price target on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com lowered Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald boosted their price objective on Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of Stratasys in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Stratasys currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Stratasys Trading Down 2.6 %

The company’s 50-day simple moving average is $10.21 and its 200-day simple moving average is $8.89. The stock has a market capitalization of $737.69 million, a price-to-earnings ratio of -7.80 and a beta of 1.31.

Institutional Investors Weigh In On Stratasys

A number of hedge funds have recently modified their holdings of SSYS. Stifel Financial Corp grew its holdings in shares of Stratasys by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock valued at $193,000 after purchasing an additional 4,600 shares during the last quarter. RPG Investment Advisory LLC lifted its holdings in Stratasys by 29.6% in the third quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock valued at $5,485,000 after acquiring an additional 150,891 shares during the period. Geode Capital Management LLC increased its position in Stratasys by 42.2% in the third quarter. Geode Capital Management LLC now owns 67,398 shares of the technology company’s stock worth $560,000 after buying an additional 20,012 shares in the last quarter. Barclays PLC lifted its holdings in shares of Stratasys by 1.9% in the third quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock worth $669,000 after buying an additional 1,525 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Stratasys by 510.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock valued at $563,000 after purchasing an additional 56,699 shares in 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.