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

Analysts at StockNews.com assumed coverage on shares of Stratasys (NASDAQ:SSYSGet Free Report) in a report released on Saturday. The brokerage set a “buy” rating on the technology company’s stock.

Several other brokerages have also weighed in on SSYS. Needham & Company LLC lowered their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price objective on shares of Stratasys in a research report on Thursday, May 30th.

View Our Latest Report on SSYS

Stratasys Stock Performance

SSYS opened at $8.29 on Friday. The stock has a market capitalization of $577.48 million, a PE ratio of -4.53 and a beta of 1.32. Stratasys has a one year low of $8.02 and a one year high of $21.72. The business’s 50 day moving average price is $9.31 and its 200 day moving average price is $11.49.

Stratasys (NASDAQ:SSYSGet Free Report) last posted its earnings results on Wednesday, May 29th. The technology company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The company had revenue of $144.05 million for the quarter, compared to the consensus estimate of $147.53 million. Stratasys had a negative return on equity of 2.68% and a negative net margin of 20.38%. As a group, equities research analysts forecast that Stratasys will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP lifted its holdings in Stratasys by 366.7% during the 4th quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock worth $60,690,000 after buying an additional 3,339,367 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Stratasys by 9.1% during 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 acquiring an additional 140,841 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Stratasys by 9.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,386,788 shares of the technology company’s stock valued at $19,803,000 after acquiring an additional 119,922 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in Stratasys by 0.3% in 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 period. Finally, Pinnacle Associates Ltd. grew its stake in Stratasys by 0.5% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,055,630 shares of the technology company’s stock worth $12,266,000 after purchasing an additional 4,991 shares in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

About Stratasys

(Get Free Report)

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.

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