Stratasys Ltd. (NASDAQ:SSYS) Sees Large Decline in Short Interest

Stratasys Ltd. (NASDAQ:SSYS) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,550,000 shares, a decrease of 17.1% from the October 15th total of 1,870,000 shares. Based on an average trading volume of 540,200 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.7% of the company’s shares are short sold.

Stratasys Stock Performance

NASDAQ:SSYS traded down $0.35 during mid-day trading on Friday, hitting $9.26. The stock had a trading volume of 757,236 shares, compared to its average volume of 506,009. The company’s 50 day simple moving average is $7.62 and its 200 day simple moving average is $8.20. The stock has a market cap of $660.98 million, a price-to-earnings ratio of -7.02 and a beta of 1.21. Stratasys has a twelve month low of $6.05 and a twelve month high of $14.93.

Stratasys (NASDAQ:SSYS) last posted its 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. Stratasys had a negative return on equity of 3.71% and a negative net margin of 16.13%. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $146.38 million. During the same period in the previous year, the firm earned ($0.08) EPS. The firm’s revenue was down 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Stratasys will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Stratasys

A number of large investors have recently made changes to their positions in SSYS. Crewe Advisors LLC acquired a new position in Stratasys in the 1st quarter valued at $61,000. Quantbot Technologies LP acquired a new stake in Stratasys in the 3rd quarter worth about $90,000. Stifel Financial Corp grew its position in shares of 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 purchasing an additional 4,600 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Stratasys during the third quarter worth approximately $210,000. Finally, Values First Advisors Inc. raised its position in shares of Stratasys by 51.3% in the second quarter. Values First Advisors Inc. now owns 33,175 shares of the technology company’s stock valued at $278,000 after buying an additional 11,254 shares in the last quarter. Institutional investors own 75.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SSYS. StockNews.com began coverage on shares of Stratasys in a research report on Monday, September 2nd. They issued a “hold” rating on the stock. Loop Capital reduced their price target on Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Craig Hallum increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald cut their price target on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Needham & Company LLC raised their price objective on Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

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.