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

Stratasys Ltd. (NASDAQ:SSYS) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 746,000 shares, a drop of 19.5% from the November 30th total of 927,200 shares. Based on an average daily volume of 624,400 shares, the short-interest ratio is presently 1.2 days. Currently, 1.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Stratasys

Several institutional investors and hedge funds have recently bought and sold shares of SSYS. State Street Corp lifted its stake in shares of Stratasys by 1.4% in the 3rd quarter. State Street Corp now owns 105,578 shares of the technology company’s stock valued at $877,000 after purchasing an additional 1,500 shares during the last quarter. Barclays PLC lifted its position in Stratasys by 1.9% in the third quarter. Barclays PLC now owns 80,454 shares of the technology company’s stock valued at $669,000 after buying an additional 1,525 shares during the last quarter. Tidal Investments LLC lifted its position in Stratasys by 4.6% in the third quarter. Tidal Investments LLC now owns 56,176 shares of the technology company’s stock valued at $467,000 after buying an additional 2,483 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Stratasys by 0.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock worth $8,731,000 after buying an additional 3,791 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of Stratasys by 0.7% during the third quarter. ARK Investment Management LLC now owns 647,221 shares of the technology company’s stock valued at $5,378,000 after acquiring an additional 4,589 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SSYS. Craig Hallum lifted their price target on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Loop Capital dropped their target price on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC upped their price target on shares of Stratasys from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, StockNews.com upgraded Stratasys from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Stratasys currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.

Stratasys Stock Performance

Shares of NASDAQ SSYS traded down $0.21 during mid-day trading on Friday, reaching $9.15. The company’s stock had a trading volume of 296,679 shares, compared to its average volume of 523,557. The stock has a 50-day moving average of $8.94 and a two-hundred day moving average of $8.25. The stock has a market capitalization of $653.11 million, a P/E ratio of -6.93 and a beta of 1.31. Stratasys has a 1-year low of $6.05 and a 1-year high of $14.65.

Stratasys (NASDAQ:SSYS) last released its earnings results on Wednesday, November 13th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The business had revenue of $140.00 million for the quarter, compared to analyst estimates of $139.49 million. During the same period last year, the company posted ($0.05) EPS. The business’s revenue was down 13.6% on a year-over-year basis. Analysts predict that Stratasys will post -0.4 EPS for the current fiscal year.

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.