Stratasys (NASDAQ:SSYS) Reaches New 1-Year Low at $7.32

Stratasys Ltd. (NASDAQ:SSYS)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $7.32 and last traded at $7.34, with a volume of 182252 shares changing hands. The stock had previously closed at $7.56.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC lowered their price objective on Stratasys from $16.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Craig Hallum dropped their price target on Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. StockNews.com assumed coverage on shares of Stratasys in a report on Thursday, August 1st. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 target price on shares of Stratasys in a report on Thursday, May 30th.

Stratasys Stock Performance

The firm has a market cap of $506.40 million, a P/E ratio of -4.13 and a beta of 1.21. The firm has a fifty day moving average of $8.66 and a 200-day moving average of $10.42.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL raised its stake in shares of Stratasys by 4.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock worth $565,000 after buying an additional 1,850 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in Stratasys in the 4th quarter valued at about $33,000. Essex Investment Management Co. LLC boosted its position in shares of Stratasys by 1.9% during the 1st quarter. Essex Investment Management Co. LLC now owns 135,324 shares of the technology company’s stock valued at $1,572,000 after purchasing an additional 2,528 shares in the last quarter. Formidable Asset Management LLC grew its stake in shares of Stratasys by 21.1% in the 4th quarter. Formidable Asset Management LLC now owns 21,252 shares of the technology company’s stock worth $303,000 after purchasing an additional 3,705 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in shares of Stratasys by 0.3% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,346,730 shares of the technology company’s stock worth $15,649,000 after purchasing an additional 3,712 shares in the last quarter. Institutional investors and hedge funds 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.