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

Stratasys Ltd. (NASDAQ:SSYS) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 599,200 shares, a decrease of 23.6% from the February 13th total of 784,300 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 671,200 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

SSYS has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Stratasys from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Needham & Company LLC increased their target price on shares of Stratasys from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald increased their target price on shares of Stratasys from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.20.

Stratasys Stock Down 0.7 %

Shares of SSYS stock opened at $10.16 on Wednesday. The company has a market cap of $728.63 million, a price-to-earnings ratio of -7.70 and a beta of 1.28. Stratasys has a 52 week low of $6.05 and a 52 week high of $12.88. The firm has a 50 day moving average of $10.37 and a 200-day moving average of $9.05.

Stratasys (NASDAQ:SSYS) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $150.40 million during the quarter, compared to the consensus estimate of $151.01 million. Stratasys had a negative net margin of 16.13% and a negative return on equity of 3.75%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. Analysts anticipate that Stratasys will post -0.4 earnings per share for the current year.

Institutional Trading of Stratasys

Several large investors have recently modified their holdings of SSYS. Invenomic Capital Management LP acquired a new stake in shares of Stratasys during the 3rd quarter worth approximately $10,916,000. Penn Capital Management Company LLC acquired a new stake in Stratasys in the 4th quarter valued at $5,376,000. RPG Investment Advisory LLC grew its position in Stratasys by 64.6% in the 4th quarter. RPG Investment Advisory LLC now owns 1,086,337 shares of the technology company’s stock valued at $9,658,000 after purchasing an additional 426,341 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in Stratasys by 53.1% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,153,580 shares of the technology company’s stock valued at $10,255,000 after purchasing an additional 400,000 shares during the period. Finally, Formula Growth Ltd. grew its position in Stratasys by 58.3% in the 4th quarter. Formula Growth Ltd. now owns 760,000 shares of the technology company’s stock valued at $6,756,000 after purchasing an additional 280,000 shares during the period. Institutional investors and hedge funds 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.