Stratasys (NASDAQ:SSYS) Sees Unusually-High Trading Volume on Analyst Upgrade

Stratasys Ltd. (NASDAQ:SSYS) shares saw an uptick in trading volume on Thursday after Craig Hallum raised their price target on the stock from $12.00 to $15.00. Craig Hallum currently has a buy rating on the stock. 348,631 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 500,111 shares.The stock last traded at $9.70 and had previously closed at $10.11.

A number of other brokerages have also weighed in on SSYS. Cantor Fitzgerald lowered their price objective on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Lake Street Capital lowered their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Needham & Company LLC lifted their price objective on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday. Loop Capital decreased their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, StockNews.com assumed coverage on Stratasys in a research note on Monday, September 2nd. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new position in shares of Stratasys during the 1st quarter worth approximately $61,000. Quantbot Technologies LP acquired a new position in shares of Stratasys during the 3rd quarter worth approximately $90,000. Values First Advisors Inc. raised its holdings in Stratasys by 51.3% in the 2nd quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock valued at $278,000 after acquiring an additional 11,254 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Stratasys during the 3rd quarter worth $322,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Stratasys by 4.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock worth $565,000 after purchasing an additional 1,850 shares during the period. 75.77% of the stock is currently owned by institutional investors and hedge funds.

Stratasys Trading Down 4.9 %

The company has a market cap of $685.96 million, a PE ratio of -6.00 and a beta of 1.21. The business has a 50 day simple moving average of $7.49 and a two-hundred day simple moving average of $8.20.

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

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.