Stratasys (NASDAQ:SSYS) Stock Price Down 5.7% – What’s Next?

Shares of Stratasys Ltd. (NASDAQ:SSYS) fell 5.7% during trading on Thursday . The stock traded as low as $9.61 and last traded at $9.76. 141,383 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 563,767 shares. The stock had previously closed at $10.35.

Analysts Set New Price Targets

Several research firms have commented on SSYS. StockNews.com lowered shares of Stratasys from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Needham & Company LLC raised their target price on shares of Stratasys from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald raised their target price on shares of Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Craig Hallum raised their target price on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.20.

Stratasys Stock Performance

The company has a market capitalization of $701.65 million, a P/E ratio of -7.45 and a beta of 1.31. The firm’s fifty day moving average is $10.25 and its 200-day moving average is $8.92.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $150.40 million for the quarter, compared to analyst estimates of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. As a group, analysts expect that Stratasys Ltd. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Stratasys

Institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp grew its holdings in Stratasys by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 23,206 shares of the technology company’s stock worth $193,000 after acquiring an additional 4,600 shares during the last quarter. RPG Investment Advisory LLC lifted its position in shares of Stratasys by 29.6% in the 3rd quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after purchasing an additional 150,891 shares during the period. Geode Capital Management LLC lifted its position in shares of Stratasys by 42.2% in the 3rd quarter. Geode Capital Management LLC now owns 67,398 shares of the technology company’s stock worth $560,000 after purchasing an additional 20,012 shares during the period. Barclays PLC lifted its position in shares of Stratasys by 1.9% in the 3rd quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock worth $669,000 after purchasing an additional 1,525 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Stratasys by 510.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock worth $563,000 after purchasing an additional 56,699 shares during the period. 75.77% of the stock is owned by institutional investors.

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.