Stratasys Ltd. (NASDAQ:SSYS) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its stake in Stratasys Ltd. (NASDAQ:SSYS) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,390,376 shares of the technology company’s stock after selling 6,710 shares during the quarter. Exchange Traded Concepts LLC owned approximately 1.95% of Stratasys worth $11,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SSYS. Gamco Investors INC. ET AL grew its position in Stratasys by 4.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 48,659 shares of the technology company’s stock valued at $565,000 after buying an additional 1,850 shares during the last quarter. Essex Investment Management Co. LLC grew its stake 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 worth $1,572,000 after purchasing an additional 2,528 shares during the period. Douglas Lane & Associates LLC lifted its stake in shares of 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. Crewe Advisors LLC purchased a new stake in shares of Stratasys during the 1st quarter worth approximately $61,000. Finally, Trium Capital LLP boosted its position in Stratasys by 5.6% during the second quarter. Trium Capital LLP now owns 150,948 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 8,052 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.

Stratasys Price Performance

Shares of SSYS opened at $7.27 on Friday. The business’s 50 day simple moving average is $7.38 and its 200-day simple moving average is $8.66. Stratasys Ltd. has a one year low of $6.05 and a one year high of $14.93.

Stratasys (NASDAQ:SSYS) last issued its quarterly earnings data on Thursday, August 29th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $146.38 million. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The business’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. On average, sell-side analysts predict that Stratasys Ltd. will post -0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

SSYS has been the subject of a number of research analyst reports. Loop Capital dropped their price objective on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Cantor Fitzgerald cut their target price on Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Needham & Company LLC dropped their price target on Stratasys from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Lake Street Capital reduced their price objective on Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, StockNews.com started coverage on shares of Stratasys in a research report on Monday, September 2nd. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.80.

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.