Stratasys (NASDAQ:SSYS) Shares Gap Down – Here’s What Happened

Stratasys Ltd. (NASDAQ:SSYS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.61, but opened at $9.89. Stratasys shares last traded at $10.32, with a volume of 304,396 shares traded.

Analyst Ratings Changes

Several analysts have recently issued reports on SSYS shares. Craig Hallum increased their price objective on Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald increased their price target on Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com downgraded Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC raised their target price on shares of Stratasys from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.20.

Stratasys Stock Performance

The firm has a market capitalization of $695.22 million, a price-to-earnings ratio of -7.38 and a beta of 1.31. The company has a 50-day moving average price of $10.24 and a 200-day moving average price of $8.90.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Stratasys had a negative return on equity of 3.75% and a negative net margin of 16.13%. The firm had revenue of $150.40 million during the quarter, compared to the consensus estimate of $151.01 million. During the same period in the prior year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, research analysts expect that Stratasys Ltd. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stratasys

Several hedge funds and other institutional investors have recently bought and sold shares of SSYS. ARK Investment Management LLC boosted its stake in Stratasys by 0.7% in 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 in the last quarter. RPG Investment Advisory LLC grew its stake in Stratasys by 29.6% during the 3rd quarter. RPG Investment Advisory LLC now owns 659,996 shares of the technology company’s stock worth $5,485,000 after buying an additional 150,891 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Stratasys by 510.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,803 shares of the technology company’s stock worth $563,000 after buying an additional 56,699 shares during the period. Quantbot Technologies LP purchased a new stake in Stratasys in the third quarter valued at approximately $90,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Stratasys by 785.6% in the third quarter. BNP Paribas Financial Markets now owns 129,728 shares of the technology company’s stock valued at $1,078,000 after acquiring an additional 115,080 shares during the period. 75.77% of the stock is currently owned by institutional investors and hedge funds.

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.