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

Stratasys Ltd. (NASDAQ:SSYS) saw an uptick in trading volume on Monday . 1,336,867 shares changed 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SSYS. Cantor Fitzgerald lowered their target price on shares of Stratasys from $23.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Needham & Company LLC lifted their target price on shares of Stratasys from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com began coverage on shares of Stratasys in a report on Monday, September 2nd. They issued a “hold” rating on the stock. Lake Street Capital reduced their price target on shares of Stratasys from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, 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 report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Stratasys Stock Performance

The company has a market capitalization of $681.68 million, a P/E ratio of -7.23 and a beta of 1.21. The business’s fifty 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 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 firm had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.49 million. During the same period in the previous year, the firm posted ($0.05) EPS. The business’s quarterly revenue was down 13.6% on a year-over-year basis. As a group, analysts forecast that Stratasys Ltd. will post -0.41 EPS for the current year.

Institutional Trading of Stratasys

A number of large investors have recently made changes to their positions in the business. Rubric Capital Management LP increased its holdings in shares of Stratasys by 3.7% in the 3rd quarter. Rubric Capital Management LP now owns 6,191,000 shares of the technology company’s stock worth $51,447,000 after buying an additional 222,297 shares during the last quarter. Clearline Capital LP grew its holdings in Stratasys by 23.3% during the 3rd quarter. Clearline Capital LP now owns 1,367,226 shares of the technology company’s stock valued at $11,362,000 after purchasing an additional 258,603 shares during the last quarter. Invenomic Capital Management LP bought a new position in Stratasys during the 3rd quarter valued at about $10,916,000. Pinnacle Associates Ltd. grew its holdings in 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 purchasing an additional 3,791 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in 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 purchasing an additional 120,000 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors.

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.