Stratasys (NASDAQ:SSYS) Sees Large Volume Increase – Time to Buy?

Shares of Stratasys Ltd. (NASDAQ:SSYS) saw strong trading volume on Monday . 1,336,867 shares traded hands during trading, an increase of 162% from the previous session’s volume of 510,794 shares.The stock last traded at $9.91 and had previously closed at $9.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Stratasys in a research report on Monday, September 2nd. They set a “hold” rating for the company. Cantor Fitzgerald reduced their price target on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Lake Street Capital reduced their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Loop Capital reduced their price target on shares of Stratasys from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Craig Hallum raised their price target on shares of Stratasys from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Two 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 currently has an average rating of “Moderate Buy” and an average target price of $11.40.

Stratasys Stock Performance

The firm has a market cap of $681.68 million, a P/E ratio of -7.23 and a beta of 1.21. The business’s 50-day simple moving average is $8.01 and its 200 day simple moving average is $8.18.

Stratasys (NASDAQ:SSYS) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.01 EPS 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 during the quarter, compared to the consensus estimate of $139.49 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The firm’s revenue was down 13.6% on a year-over-year basis. As a group, equities research analysts expect that Stratasys Ltd. will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rubric Capital Management LP boosted its stake in shares of Stratasys by 3.7% during the 3rd quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock worth $51,447,000 after acquiring an additional 222,297 shares during the last quarter. Clearline Capital LP boosted its stake in shares of Stratasys by 23.3% during the 3rd quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock worth $11,362,000 after acquiring an additional 258,603 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of Stratasys during the 3rd quarter valued at $10,916,000. Pinnacle Associates Ltd. lifted its stake in shares of Stratasys by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,050,639 shares of the technology company’s stock valued at $8,731,000 after buying an additional 3,791 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of Stratasys by 17.2% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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.