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

StockNews.com began coverage on shares of Stratasys (NASDAQ:SSYS) in a research note published on Friday morning. The brokerage issued a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Craig Hallum decreased their price target on shares of Stratasys from $16.00 to $14.00 and set a buy rating on the stock in a research report on Monday, July 1st. Needham & Company LLC dropped their price objective on Stratasys from $16.00 to $12.00 and set a buy rating for the company in a research note on Thursday, May 30th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $23.00 price objective on shares of Stratasys in a research note on Thursday, May 30th.

Stratasys Price Performance

NASDAQ:SSYS opened at $7.09 on Friday. The firm’s 50-day moving average price is $8.53 and its 200-day moving average price is $10.24. The company has a market capitalization of $493.86 million, a PE ratio of -3.87 and a beta of 1.21. Stratasys has a 1-year low of $7.04 and a 1-year high of $15.12.

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

Institutional Investors Weigh In On Stratasys

A number of hedge funds have recently made changes to their positions in the company. RPG Investment Advisory LLC boosted its stake in Stratasys by 6.1% during the second quarter. RPG Investment Advisory LLC now owns 509,105 shares of the technology company’s stock valued at $4,271,000 after buying an additional 29,177 shares during the last quarter. Trium Capital LLP boosted its stake in Stratasys by 5.6% during the second quarter. Trium Capital LLP now owns 150,948 shares of the technology company’s stock valued at $1,266,000 after buying an additional 8,052 shares during the last quarter. ARK Investment Management LLC boosted its stake in Stratasys by 22.2% during the second quarter. ARK Investment Management LLC now owns 642,632 shares of the technology company’s stock valued at $5,392,000 after buying an additional 116,912 shares during the last quarter. State of Michigan Retirement System boosted its stake in Stratasys by 17.2% during the second quarter. State of Michigan Retirement System now owns 817,503 shares of the technology company’s stock valued at $6,859,000 after buying an additional 120,000 shares during the last quarter. Finally, TSP Capital Management Group LLC boosted its stake in Stratasys by 3.7% during the second quarter. TSP Capital Management Group LLC now owns 443,400 shares of the technology company’s stock valued at $3,720,000 after buying an additional 16,000 shares during the last quarter. 75.77% of the stock is currently owned by hedge funds and other 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.