Stratasys (NASDAQ:SSYS) Shares Gap Up to $7.05

Stratasys Ltd. (NASDAQ:SSYS) gapped up before the market opened on Monday . The stock had previously closed at $7.05, but opened at $7.43. Stratasys shares last traded at $7.57, with a volume of 190,503 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on SSYS. 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 decreased their target price on shares of Stratasys from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. StockNews.com assumed coverage on shares of Stratasys in a research report on Monday, September 2nd. They issued a “hold” rating for the company. Needham & Company LLC decreased their price objective on shares of Stratasys from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Cantor Fitzgerald dropped their target price on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.80.

Stratasys Stock Up 0.8 %

The firm’s fifty day moving average price is $7.80 and its 200 day moving average price is $9.18. The stock has a market cap of $521.03 million, a PE ratio of -4.09 and a beta of 1.18.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings results on Thursday, August 29th. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Stratasys had a negative net margin of 18.98% and a negative return on equity of 3.29%. The business had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $146.38 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. As a group, analysts anticipate that Stratasys Ltd. will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stratasys

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Stratasys during the 4th quarter valued at approximately $6,706,000. Rubric Capital Management LP raised its stake in Stratasys by 366.7% during the fourth quarter. Rubric Capital Management LP now owns 4,250,000 shares of the technology company’s stock valued at $60,690,000 after purchasing an additional 3,339,367 shares in the last quarter. Gabelli Funds LLC lifted its position in Stratasys by 38.3% during the fourth quarter. Gabelli Funds LLC now owns 165,947 shares of the technology company’s stock valued at $2,370,000 after purchasing an additional 45,957 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Stratasys by 9.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,694,148 shares of the technology company’s stock worth $24,192,000 after buying an additional 140,841 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Stratasys by 87.2% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 104,104 shares of the technology company’s stock worth $1,487,000 after buying an additional 48,504 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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.